Car insurance rates dropping, despite fraudster activity

CAR INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 16 OCT 2013:

Finally, some welcome news: even though fraudsters and scammers seem to be working overtime, car insurance rates are finally beginning to fall in the UK.

Motor car insurance premiums have definitely been absolutely running rampant over the past few years, and when you combine that with the costs of petrol and the other necessities for keeping a car on the road, it’s been bloody difficult for many Brits to afford to have their own transport. Luckily, some good news finally broke with new research data indicating that car insurance costs have plummeted by nearly 14 per cent over the last 12 months.

If you ask me, it’s about damned time that we saw some relief in this area. Costs have been out of control for way too long, especially for younger Brits, and it’s nice to see that prices are beginning to recede. I can only hope that the trend continues – and that car insurance fraud doesn’t keep driving those costs ever higher!

Speaking of fraud, I think UK authorities are finally getting a handle on the problem, if the news this week is any indication. It was recently announced that there were 27 arrests thanks to an ongoing insurance scam investigation that spread across the country, hauling fraudsters off from the West Midlands, Thames Valley, Manchester, London, and Leicestershire.

The massive scam was an insidious one – it involved ‘ghost brokers’ taking cash from younger Brits, purportedly to purchase car cover for them, only to hand these poor youngsters falsified documents. The criminals then keep their ill-gotten gains, even though they’re letting these young motorists drive about without valid insurance cover – which means that if they get into an accident, they’re absolutely ruined!

Luckily the massive fraud ring was uncovered and a whole shedload of scammers was taken into custody. Good riddance to bad rubbish, if you ask me – anyone who makes a quick few quid at someone else’s expense like that should be locked up for a very long time. I mean, let’s face it: for what it’s worth, cheap car insurance for young drivers is so thin on the ground right now that toying with young Brits like that should be a capital offence if you ask me!

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