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Personal injury claims push up car insurance cost

Car insurance is rising at its fastest rate for nearly a decade, thanks to personal injury claims as well as uninsured drivers. Fraudulent claims are also putting pressure on premiums as well as the estimated 1.6 million uninsured drivers in the UK.

As a result some insurers are withdrawing third party, fire and theft insurance and only around half of insurers will quote for drivers under 21. The latter make 10 times more claims than drivers aged 35. On the plus side, the AA also reported that home contents insurance is cheaper than it was 15 years ago. Although home buildings insurance, however, is rising – reflecting flooding and other climate change concerns in their premiums.

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