There are possibly some motorists who may be a little skeptical about whether their motor insurer would pay out if they were to submit a claim on their policy. Well, analysis carried out by the Association of British Insurers (ABI) would indicate that anyone thinking that need not be concerned.
The majority of claims on private motor insurance policies were met by insurers in 2014 and 2015.
This is because, apparently, the ABI found that of the numerous claims that were made by motorists on their private motor insurance policies in 2014 and 2015, 99% of them were paid out by the insurance companies concerned. That is a very high percentage and should give motorists peace of mind that if a genuine claim is submitted that it should be met by the insurer.
In the above years, the ABI’s analysis looked at 4.5 million claims submitted by private motorists to a lot of insurance companies. We are sure that you will agree that that is a huge number of claims that have been included in the analysis. It is also interesting to read that the average amount that was paid out for each claim amounted to £2,347. That is more than in the period covering 2013/2014 when the average amount that was paid out was £2,160 per claim.
Whilst nobody wants to be placed in the position of having to claim on their car insurance policy, the above figures certainly provide the reassurance that the claim should be processed and paid, hopefully, to the satisfaction of the policyholder.
It would be interesting to find out how many motorists when they are obtaining a quote for motor insurance bother to try to find out what % of claims that particular insurance company who have provided the quote have met in the past. Should this be something that motorists do as part of their due diligence? We would very much welcome your thoughts in this respect so feel free to leave your comments for visitors to our website to read.
