Auto insurance in the U.K. became much more costly, last year

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According to data from the ABI, premiums for insuring a car increased by an average of 8 percent. In the final quarter of last year, auto insurance premiums in the United Kingdom increased by an estimated 7 percent, when compared to the rates that had been charged to customers during the previous quarter. Throughout all 2015, it is estimated that the increase in car insurance premiums in the U.K. was 8 percent. The increase in auto insurance increases had a great deal to do with a premiums tax that has…

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Auto insurance premiums continue to grow in the UK

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UK reports greatest increase in premiums it has seen since 2011 Auto insurance premiums in the United Kingdom saw the greatest increase in 2015 that have been reported in the country since 2011. Throughout 2015, rates have been growing steadily, with some drivers expressing concern regarding the increased financial pressure. According to’s auto insurance price index, rates in the UK rose by an average of 13.2% overall. In the fourth quarter of last year, rates grew by an average of 6.9%. Insurance Premium Tax and other factors are affecting…

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Auto insurance fraud suffers a blow in the United Kingdom

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UK Ministry of Justice puts an end to compensation for minor whiplash injuries The United Kingdom government is working to combat auto insurance fraud and the Ministry of Justice is putting an end to compensation for minor whiplash injuries caused by car accidents. Instead of receiving compensation from their auto insurance providers, their rehabilitation will be paid for, which the government expected will save consumers an estimated $1 billion a year in insurance costs. Moreover, cutting down of fraudulent claims may lead to a decrease in auto insurance premiums. Changes…

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Auto insurance fraud is growing in the UK

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Fraud is beginning to expand throughout the United Kingdom Auto insurance fraud continues to expand in the United Kingdom. According to the Association of British Insurers, fraud is quickly becoming one of the most problematic challenges that the insurance industry is facing. The number of fraudulent insurance applications, in particular, is increase, which is beginning to put more strain on insurance companies and is leading to higher costs as insurers invest more in anti-fraud measures. Auto insurance fraud is likely to place consumers under greater financial pressure, as well, as…

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Auto insurance fraud is coming back to the UK

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Insurers are seeing a growing number of fraudulent whiplash claims coming from drivers and other parties Drivers in the United Kingdom can expect to pay more for their auto insurance coverage, as the plague of fraudulent whiplash claims has returned and may be worse than ever. Fraud has placed many insurers under greater financial pressure, and falling profits typically mean higher insurance premiums. As fraud becomes more prevalent, drivers may see an increase in their auto insurance premiums of an average of 15% next year. Fraud is becoming more common…

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