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Is It Your Car Insurance Companies Fault?

April 11, 2012 | Comments: 0 | Views: 124

Consumer confidence has never been lower in the finance and insurance sectors. With increasing premiums it is easy to see just why members of the public no longer feel as thought they are getting real value for money.

But is it really your insurance companies fault or are there external factors which affect the prices you are asked to pay?

Until recently I was just like the majority of the general public. I paid my car insurance every year and even though I thankfully never made a claim my premiums continued to rise. Just like a growing number of people I was left feeling taken advantage of, left feeling that I was no longer getting any form of value for money. That is until I decided to look in to just why my policy price was increasing and what was happening in the world of car insurance to affect my policy price.

With technological advances in the motoring industry our cars have never been safer to drive. Safety testing and improvements in design have meant that even if we are in a serious accident we are no more likely than ever to be able to walk away with little more than cuts and bruises.

Again advancements in security means that our cars are now more difficult to steal than ever, with most models now almost impossible to start without use of the keys. Gone are the days of "hot wiring cars". In fact it was recently reported by a UK national body that they estimate that 83% of all cars are stolen with the use of the keys. The latest trend is to break into your house and instead of reaching for the TV or other valuables, to head straight for your car keys.

In fact car related claims are falling in the UK. A worrying and alarming factor is however that the number of compensation claims is increasing. So fewer accidents, more claims. In fact it is estimated that the insurance world lose billions every year in fraudulent claims.

Now insurance companies are businesses so naturally these additional costs are not totally absorbed and are instead passed on in part to us by way of increased premiums.

So next time your insurance premium rises for no apparent reason could it instead of your insurance company simply wanting additional profit could it not be a result of the compensation and claim culture we all live in?

Jackie Verdier Sales Director at Aequitas Automotive Limited

Aequitas Automotive Limited's aim is simply to be fair and honest in all we do. No gimmicks, no fuss just fantastic service and real market leading prices via our two brands https://easygap.co.uk/, https://gapinsurance123.co.uk/.

Source: EzineArticles
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