Cost of car insurance drops in the North West
Biggest drop in insurances cost in the UK Photo: PA
Car insurance premiums have fallen on average of around £100. Regionally, the north west of England saw the biggest dip - of 20.9% according from figures from the AA.
For the first three months of 2014, the average comprehensive motor insurance "shoparound" figure, involving quotes from a number of markets, had plunged to £531. This was 5.6% down on the figure for the last three months of 2013 and 16.6% down on the January-March 2013 figure.
Young drivers, who have to pay the most for comprehensive insurance, enjoyed the biggest dips in premiums in the first part of this year, with the cost for 17 to 22-year-olds coming down 20.5% compared with the first three months of last year and 23 to 29-year-olds getting a 19.9% fall.
However, the AA warned that this could be the end of the good news for motorists.
"Legal reforms introduced by the Justice Ministry to curb organised attempts at whiplash injury fraud coupled with better fraud detection by insurers have also certainly helped put downward pressure on premiums.
"But despite this there is no evidence that this is delivering any significant reduction in the number and value of personal injury claims."
"I do expect premiums to start rising again this year unless the fraud issue can be dealt with. If not, it's likely to be young drivers, those with a poor claims history or those in localities where there are frequent claims who will find it most difficult to obtain competitive cover." - AA Insurance director Simon Douglas
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Biggest drop in insurances cost in the UK Photo: PA
Car insurance premiums have fallen on average of around £100. Regionally, the north west of England saw the biggest dip - of 20.9% according from figures from the AA.
For the first three months of 2014, the average comprehensive motor insurance "shoparound" figure, involving quotes from a number of markets, had plunged to £531. This was 5.6% down on the figure for the last three months of 2013 and 16.6% down on the January-March 2013 figure.
Young drivers, who have to pay the most for comprehensive insurance, enjoyed the biggest dips in premiums in the first part of this year, with the cost for 17 to 22-year-olds coming down 20.5% compared with the first three months of last year and 23 to 29-year-olds getting a 19.9% fall.
However, the AA warned that this could be the end of the good news for motorists.
"Legal reforms introduced by the Justice Ministry to curb organised attempts at whiplash injury fraud coupled with better fraud detection by insurers have also certainly helped put downward pressure on premiums.
"But despite this there is no evidence that this is delivering any significant reduction in the number and value of personal injury claims."
"I do expect premiums to start rising again this year unless the fraud issue can be dealt with. If not, it's likely to be young drivers, those with a poor claims history or those in localities where there are frequent claims who will find it most difficult to obtain competitive cover." - AA Insurance director Simon Douglas
Original Post By: http://ift.tt/1pCYzXD
Source : http://ift.tt/1pCYzXD
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