insuranceal
New Member
- 16
Thought I'd share my observations on the car insurance market here in the UK.
Over the last few years we have seen premiums sky rocket making it particularly difficult for young drivers to get insured.
Underwriters are claiming the reason for the sharp rise is in part due to the claims from the no win no fee lawyers for personal injury claims and drivers providing false information in order to get lower quotes.
The high cost can be highlighted with a recent example of a friend of a friend whose step son (17) recently got insured at the cost of £1,700. This was for a car that had non-factory alloy wheels but by no means a typical boy racer vehicle. His mother was also a named driver on the policy, I didn't ask if his mother was fronting the policy but I presume not.
This was the cheapest quote, in fact most other insurance companies would not even insure him and the only other quote was for £7,000, many time the value of the car.
Something will need to change in the UK as car insurance premiums continue to rise pricing many young drivers and even drivers up to the age of 30 out of the market.
It will only lead to an increase in uninsured drivers for which the current penalties are worth the risk of getting caught for as many as 1 in 10 drivers on UK roads.
What are your views on the current state of the car insurance market?
Over the last few years we have seen premiums sky rocket making it particularly difficult for young drivers to get insured.
Underwriters are claiming the reason for the sharp rise is in part due to the claims from the no win no fee lawyers for personal injury claims and drivers providing false information in order to get lower quotes.
The high cost can be highlighted with a recent example of a friend of a friend whose step son (17) recently got insured at the cost of £1,700. This was for a car that had non-factory alloy wheels but by no means a typical boy racer vehicle. His mother was also a named driver on the policy, I didn't ask if his mother was fronting the policy but I presume not.
This was the cheapest quote, in fact most other insurance companies would not even insure him and the only other quote was for £7,000, many time the value of the car.
Something will need to change in the UK as car insurance premiums continue to rise pricing many young drivers and even drivers up to the age of 30 out of the market.
It will only lead to an increase in uninsured drivers for which the current penalties are worth the risk of getting caught for as many as 1 in 10 drivers on UK roads.
What are your views on the current state of the car insurance market?
