Apparently, over the last couple of years, average premiums for car insurance have risen by 21% and this has given cause for concern in the Government. This is even though, as mentioned in a number of older posts on this website, the average cost of insuring a car has reduced in the UK. So, it has to be said, this is a commendable course of action and one that will no doubt be welcomed by motorists.
The aim of the task force is going to be to look at things that have caused car insurance premiums to increase and consider ways of reducing/containing the negative impact on motor insurance premiums.
Louise Haigh, the Transport Secretary and Tulip Siddiq, the Economic Secretary to the Treasury, have brought together the likes of insurance regulators, champions of consumers and industry groups including Compare the Market that is a well-known price comparison website, Citizens Advice, Association of British Insurers (ABI) and Which?.
Apparently, the increases in car insurance premiums we have seen here in the UK are a lot higher than in the likes of Italy, France, Germany and Spain.
There are numerous things that have led to an increase in car insurance premiums here in the UK. For instance, there has been a rise in the number of cars being stolen, a significant number of cars are damaged due to potholes on many roads and inflation has had an impact on car parts.
It will be interesting to monitor what this task force comes up with over the coming months to hopefully help reduce/contain car insurance premiums.
Every year, existing motorists receive a renewal notice about their car insurance premiums. On the paperwork, you will be told what your new premium is going to be for the next 12 months but also how much you have been paying in the last year so that you can compare the figures. Too many people just accept what is likely to be a rise in the cost of insuring their car. However, it really doesn’t take long to get one or more comparison car insurance quotes. In this respect, why not give us a call and let us see if we can help you save some money on your car insurance. We very much look forward to speaking with you without any obligation to proceed.
