Motorists that sometimes search in vain for discount car insurance have voiced their frustration, leading to many industry experts to choose to answer their most frequently asked questions as to why car insurance companies have been raising rates so high over the past few years.
While motorists ask why car insurance rates keep going up, the truth of the matter – according to insurers anyway – is that their car insurance divisions have been losing cash left and right. Providers blame the losses on exaggerated accident claims and incidences of fraud, adding that the increased risks faced by providers necessitate massive premium increases.
Still, there are things you can do to still save some cash, as many drivers have asked if it’s truly possible to find savings in such a bleak economic environment. The truth is that you can still find less expensive cover, if you take the time to shop around, as some insurers will offer comparable levels of cover that is around £375 less than what you’re currently paying – and many providers will even allow you to transfer your no-claims bonus as well.
Sometimes even changing insurers may not seem to help, and harried drivers – especially younger ones, who are subjected to massive insurance premiums quite often – sometimes ask plaintively if there’s anything at all that can be done. Luckily, there can be something that can be changed if there are no insurers willing you to offer competitive cover; while you can’t change your age, you can change the type of car you drive, as some care are much more expensive to insure than others – high performance cars are naturally higher risk than smaller, less powerful motors.