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Five Point Plan to Cut Down Car Insurance Prices for Honest Drivers

Posted On : Oct-24-2016 | seen (180) times | Article Word Count : 487 |

Find here, five measures that the government can implement to reduce motor insurance premiums for honest UK drivers. It will also improve the car insurance scene in the UK. The biggest cause of concern for UK motorists is not the chances of fatal accidents but, the ever inflating costs of car insurance.
According to statistics, motor insurance premiums have risen by 13% when compared to last year. And why? Well, it is the technical advances and hi-tech features that demand high insurance premiums. Yup! The insurers keep in mind that the repair charges for cameras, sensors and other technicalities are quite high and they need to increase premiums to monetarily facilitate the customer in case of accidents.
Other big reasons for higher premiums are the fraud cases and the ever increasing number of whiplash claims. To combat the insurance price rise scenario, we suggest few measures to be implemented by the UK government so as to cut down the cost of insurance.
Legislation for whiplash and personal injury compensation!
Last year, the government declared the need for a law to deal with fraud insurance claims especially whiplash. It planned to increase the small claim limit so that fraudsters cannot take advantage of things. However, nothing has happened as of now and it’s high time to put that plan into action. There should be an implementation of the strategy so as to save the honest motorists from paying inflated insurance costs.
Control over Insurance Premium Tax!
Statistics suggests that IPT have risen from 6% to 10% in 2016. This adds around £40 to the average motor insurance premiums making it quite heavy for the honest drivers. To save the honest driver population from paying heavy premiums, the government should take measures to stop increasing the IPT.
AEB should be made compulsory!
Vehicles are becoming much safer with the advances in technology. Systems like Autonomous Emergency Braking (AEB) have been quite effective at reducing the severity of vehicle collisions. This eventually cuts down paying for repairs and so should be made compulsory for all UK drivers.
Apply strict laws to manage motor insurance fraud
The government should take strict measures to curb motor insurance frauds. According to reports, the value of dishonest motor insurance claims in 2015 equals to £800m. This Godzilla sized amount is then recovered from honest drivers in the form of increased premiums. To stop the innocent drivers from emptying their pockets, the government should quickly implement the recommendations of the Insurance Fraud Taskforce report, which gives practical methods of decreasing fraud cases in the realm of car insurance.
Improve young driver’s safety!
Young drivers between 17 and 19 years accounts for 9% of the fatal road accidents in the UK! This is one of main reasons why they pay the highest motor insurance premiums however this will not solve the matter. The Government needs to take special measures to increase the awareness of young drivers and incorporate measures like Graduated Driver Licensing to improve the safety of young drivers.
This five point plan can actually help to cut down motor insurance costs and above all, improve the safety measures for drivers in the UK.

Article Source : http://www.articleseen.com/Article_Five Point Plan to Cut Down Car Insurance Prices for Honest Drivers_320238.aspx

Author Resource :
Brijesh is a financial advisor at Freepricecompare.com and a passionate blogger. He writes on personal finance and consumer information. He urges all UK motorists to compare car insurance quotes before renewing it from existing supplier. When he isn’t writing, he is spending time to find advance technique of farming and its way of applying. He also plays his guitar gifted by his father.

Keywords : car insurance, auto insurance, money-saving ideas, compare motor insurance, UK, car insurance premium,

Category : Finance : Insurance

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