Car insurance frauds accelerate excess charges
As revealed by uSwitch.com, insurers have been forced to accelerate the cost of necessary excess payments by 32% due to increasing fraudulent claims for car insurance in the previous year. The latest research of a comparison website disclosed 44% increase in fake car insurance claims, as car insurance trade foots £1.9billion fraudulent bill. As a result, uSwitch.com reveals that necessary excess payment on average has increased by 32% from around £129 to £170 due to which 85% of drivers involved in the accidents will have to shell out this charge.
The increase could reach up to £154million in the coming year with around 4.4 million claims made every year. In the meantime, the drivers who are making the claim will have to pay voluntary excess amount adding an excess of £197 to average claim. Further examination has revealed that average price of the car insurance policy has been increased by10% since previous year from £480 to £526 for the comprehensive covers and the third party covers has witnessed around 13% increase.
Disappointed by news, the insurance expert of uSwitch.com expressed that increase in the hidden charges and exploitation of drivers has become common in the tense economic situation. He warned the drivers of the dual excess payments charged by the car insurers. He suggested drivers to compare car insurance policies and read the small print on the insurance policies to avoid getting fleeced. He suggested the drivers to shop for car insurance policies every year for getting the best deals.
The car insurers provide competitive rates to the new clients. Changing the car insurance dealers can be beneficial because of this reason too. Compare car insurance policies using different sources and buy the finest cover for your vehicle. Make sure that you compare various car insurance policies carefully before you buy one for your vehicle.
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