Admiral Car Insurance – 25% Premium Rise Expected Over Two Years
Added: (Fri Mar 05 2010)
UK car insurance customers should brace themselves for a potential 25% car insurance price hike over the next 12 months, with Admiral car insurance admitting that it is set to follow up last year’s 12% price increase by the same amount in 2010.
If this growth is experienced across the entire UK market then the average UK car insurance premium will raise a staggering £100. Sadly this does appear to mirror the official inflation data that has been experienced in a number of major insurance industries. In fact, the Office of National Statistics reveals that car insurance figures have indeed risen by a fifth across all UK car insurance providers.
The increase has been blamed in some quarters by the unstoppable rise of car insurance fraud, with many consumers still blissfully unaware that schemes such as ‘fronting’ are illegal in the UK. Meanwhile the increasing pay-outs for personal injury claims are also stinging the brokers deep within their pockets.
While an experienced driver may experience only a small increase in their UK car insurance premium, the worst affected are likely to be the newly qualified drivers with zero experience and zero no-claims discount with any UK car insurer – in which case the increase could be as much as £300.
Drivers are being urged to remain loyal and stick with their provider to build up a level of trust with an extended no-claims discount which will lead to reduced renewal rates.
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Submitted by:Lewis Mitchell Find out more.