I don’t know who they think they’re fooling, but car insurance companies are posting record profits whilst the rest of us shoulder the economic burden.
Direct Line’s plans for an IPO were ruined after the Office of Fair Trading sent the insurance industry to the Competition Commission for suspect practices.
When it comes to premium pricing, the car insurance group your vehicle falls into can sometimes spell the difference between an affordable price quote and one that makes you wish you lived within walking distance of your job, experts say.
One major motor car insurance provider recently reported that its earnings growth has been suppressed by an excess of personal injury claims, with one executive remarking that the year had been a ‘disappointing’ one as a result.
One of the largest car insurance groups in the UK experienced a 30 per cent drop in its share price after it issued a warning that increased motor car insurance claims may impede its profits growth.
While the AA’s recent car insurance rate premium index recently revealed that car insurance groups have finally begun to ease off on premium price increases, many critics have been reluctant to declare this a good sign for consumers.
The Pass Plus course is apparently ‘not worth’ taking by newly qualified motorists, according to car insurance groups, because taking the course does not result in premium prices that would result in discount car insurance for young drivers.
Cheap car insurance experts have recently said that you can save money on your insurance premiums by selecting a new car in one of the lower car insurance groups, much in the same way that doing so with a used car can lead to less expensive cover as well.
As discount car insurance for young drivers gets more and more scarce, one car insurance comparison site has come forward to publish a list of cars that are generally less expensive to insure than others – especially for young motorists who may be struggling financially.
The planned governmental ban on referral fees, a practice that has been criticised for causing rampant hikes to consumers’ car insurance rates, ‘can’t come soon enough,’ according to some experts.