The stark rise in car insurance and business car insurance premiums
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Posted On :
Oct-28-2011
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Article Word Count :
436
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The sharp rise in motor insurance and business vehicle insurance premiums, which was predicted by Norwich Union at the end of 2006 has not materialized.
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The sharp rise in motor insurance and business vehicle insurance premiums, which was predicted by Norwich Union at the end of 2006 has not materialized.
One of the largest auto insurer had the British Norwich Union said that in the year 2007 premiums would rise by 16% to cover the increased cost of claims. However, shows the latest AA British Insurance Index increased by only 5.9% in comprehensive car insurance cover throughout the year.
The reason for the deadlock rate increases given a lot of tough competition between the top line was generated, the British insurance company.
Normally, the report said, paid an average of 594 full UK driver for the car cover in the autumn of last year. The index also shows that those who shopped around looking for cheaper car insurance, when it came to renew the policy, on average 194 less, an indicated savings of 33 percent of paid up.
The data also showed that car insurance for third party fire and theft could also be cheaper on power companies on renewal, to quote savings of up to 225 a year under the industry average.
However, there are other factors affecting the accuracy of these statistics could be affected.
According to a recent article in The Guardian Money Column, compared to the exact circumstances of each driver to make a true comparison is what actually cheaper insurance option to achieve. For example, some insurers will not provide coverage for business or commercial use, and other insurers do not offer any sort of policy for younger drivers.
It was also found that often the cheapest, the insurer may subsidize theirPremiums through the application of other costs and fees. An example of this can be calculated in the APR, if the premiums are paid in monthly installments to be found. Extra costs have risen by as much as 39% if it has been applied. Even regular driver abroad are free European cover is offered by some insurers may, while others as many as 20 additional fee for a two week visit to France.
Interestingly, the consumer body Which icon? Discovered that insurance premiums directly to up to 25% by buying to reduce the designated business website online.
The organization suggests that even if only a third party, fire and theft will be taken into consideration, it would be advantageous to also get quotes for comprehensive car insurance, how often
this type of coverage can cost not much more, and it may well be worth the difference to provide additional security and to secure peace of mind.
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Article Source :
http://www.articleseen.com/Article_The stark rise in car insurance and business car insurance premiums_97398.aspx
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Author Resource :
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Keywords :
quotes, report ,
Category :
Finance
:
Insurance
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