Insurance Rises Despite Personal Injury Claims Decrease
In 2016 The Conservative Government promised there wouldn’t be an car insurance rise but new reports suggest premiums continue to rise.
Despite the promise from the Department of Justice, motor premiums have increased despite a drop in the number of claims. The evidence available in the public domain suggests this. According to The Times newspaper, some companies are facing accusations of ‘profiteering’ after figures showed that premiums had increased despite a drop in the number of personal injury claims.
We reported on this issue last year and discussed the appointment of Liz Truss as Secretary of State for Justice in 2016. She has no legal experience or qualification. An inexperienced Minister set to deny road user’s the right to claim compensation. Drivers have seen policies rise by an average of £110 in the past year, with motorists being quoted an average of £781 for comprehensive cover. Read The Big Insurance Lie now.
Statistics produced by the Department for Works & Pensions is that whiplash claims have fallen by 41% since 2011.
The Times also reports that the number of claims from road accidents dropped by almost 7% over the past year. The Association of British Insurers own data shows the amount paid out annually has fallen from £8.302bn in 2010 to £5.796bn last year – a decrease.
Liz Truss has yet to respond to this latest scandal on the car insurance rise.
It appears that insurance companies will increase premiums no matter what, because the car insurance industry relies on compulsory purchases. It’s an industry worth billions of pounds in revenue and profit.
READ MORE >>>>
Is the UK the Whiplash Capital of the World?
Will My Insurance Premium Increase after Accident?
The Law Society Campaign ‘Don’t Get Mugged over Accident Claim’
Serious Road Traffic Accidents Often Lead to Whiplash