Car insurance frauds on rise
Insurance frauds have soared to £1.9billion every year in UK, adding to the car insurance premiums too. This year only average insurance premiums crossed £1,000 for the first time in the Great Britain which is around 19% increase on what drivers were paying last year. Rise in the car insurance premiums is on an average costing £44 to every household each year.
Recent research states that even the genuine car insurance clients are also suffering from the sharp increase in the car insurance due to the ones who indulge in frauds. A part of this problem is increasing number of personal injury attorneys that might be motivating claimants to lie or exaggerate extent of the injuries at the time of accidents. A research conducted among the lawyers revealed that around 57% of them had noticed hike in the number of the exaggerated claims as well as invented injuries from the claimants in the bid to make money from insurers.
Law firm that specialize suspected fraud personal injury claim and investigation have stated that this research supports experience within fraud unit. They believe the hiked premiums as indirect to the people, posed by dishonest drivers which is not fair and needs to be addressed.
AA car insurance company reveled that even though Britain has the lowest accidents as compared to rest of Europe but the rate of personal injury claims is much higher. Whiplash injuries in particular are exaggerated by the drivers and presented as great one to make money from the insurance company. The company further calculates £66 of each client’s annual premium is made of funding the personal injury claims.
So to keep away from getting fleeced at the time of buying car cover these days is comparison shopping. Honest drivers should compare the market and buy the insurance policy that is decently priced and caters to the car’s requirements well.
Article written by the marketing division of Compare.Com.