More and more motor car insurance policy holders in the UK have decided that crashing for cash is the best way to get some extra money in their pockets from car insurance companies, new research has shown.
Oneonline car insurance comparison site recently found that one out of every 20 motorists aged 35 and younger have gone on to falsely report an accident. Moneysupermarket.com also discovered that more than one million are finding it so hard to obtain discount car insurance that they would be amenable to either deliberately causing or inventing a false road traffic accident or invent one in order to make a claim on back funds.
One insurance expert cautioned drivers to not make rash decisions about declaring fraudulent claims. Peter Harrison stated that, even though all of us have felt the affects of the recession to varying degrees, engaging in a cash for crash scheme is quite possibly the worst decision you can make, as it not only means that you are wilfully endangering the lives of other road users, but you’re also engaging in illegal activity.
In related news, earlier in July, Moneysupermarket came out to acknowledge how difficult homeowners have had it in the wake for the Bank of England’s Monetary Policy Committee regarding their decision to maintain the base rate at its historic 28 month low of 0.5 per cent. The MPC claims that raising the base rate could risk destabilising the already fragile British economic recovery, yet critics say that continued months of such a low base rate has done little to curb the runaway inflation that currently grips the nation.