Drivers expected to pay higher premiums to Vehicle Insurance compensate Losses

07 October 2014 - Which Way To Pay

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Reports show Vehicle Insurance claim levels are set to rise

Motoring rates were increased twice last year and are set to rise for a third time by the end of this year. The most recent rise was reported as being made last year , and resulting in hundreds of drivers being affected. Major Vehicle Insurance brands are settling claims quicker than normal as they don't want these to go to the injuries board. Most drivers who are looking at renewing there vehicle insurance policies , have been advised to shop around for with a number of companies , as it may save them up to 200 per policy. The term being used by brokers is discretionary discount , this is according to recent research .

Drivers advised to check what their Vehicle Insurance Covers

Recent Figures show that at least 20% of drivers have never actually checked what there cover includes ,and when they have actually come to make a claim , they are not covered. Leading Vehicle Insurance providers know that if they can offer their existing clients the same quote for a premium renewal , they will more than likely renew the policy with the same Provider.

Highest amount of Vehicle Insurance compensation paid on record

Reports have shown recently that it's the highest amount of compensation ever been paid. The increase is on average 22% on previous years. So the fact that all drivers should be checking if they are getting the best Vehicle cover on the market , so that the premiums can be adapted to what the driver needs for their individual requirements.



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