5 Point Strategy to Reduce Down Automobile Insurance coverage Prices for Honest Drivers

The greatest trigger of concern for UK motorists is not the probabilities of fatal accidents but, the ever inflating charges of car insurance.

According to statistics, motor insurance premiums have risen by 13% when compared to last year. And why? Nicely, it is the technical advances and hi-tech attributes that demand higher insurance coverage premiums. Yup! The insurers preserve in thoughts that the repair charges for cameras, sensors and other technicalities are very higher and they require to improve premiums to monetarily facilitate the buyer in case of accidents.

Other large causes for higher premiums are the fraud situations and the ever escalating number of whiplash claims. To combat the insurance price tag rise scenario, we suggest handful of measures to be implemented by the
UK government so as to reduce down the expense of insurance.

Legislation for whiplash and private injury compensation!
Final year, the government declared the want for a law to deal with fraud insurance coverage claims specially whiplash. It planned to boost the tiny claim limit so that fraudsters can’t take advantage of things. Even so, nothing has happened as of now and it really is high time to place that strategy into action. There ought to be an implementation of the strategy so as to save the sincere motorists from paying inflated insurance coverage expenses.

Control more than Insurance Premium Tax!
Statistics suggests that IPT have risen from 6% to 10% in 2016. This adds around £40 to the typical motor insurance coverage premiums creating it fairly heavy for the honest drivers. To save the honest driver population from paying heavy premiums, the government should take measures to quit rising the IPT.

AEB should be created compulsory!
Autos are becoming much safer with the advances in technology. Systems like Autonomous Emergency Braking (AEB) have been quite effective at minimizing the severity of vehicle collisions. This at some point cuts down paying for repairs and so must be created compulsory for all UK drivers.

Apply strict laws to manage motor insurance coverage fraud
The government should take strict measures to curb motor insurance frauds. According to reports, the worth of dishonest motor insurance coverage claims in 2015 equals to £800m. This Godzilla sized quantity is then recovered from sincere drivers in the form of improved premiums. To stop the innocent drivers from emptying their pockets, the government need to speedily implement the suggestions of the Insurance Fraud Taskforce report, which gives sensible techniques of decreasing fraud situations in the realm of vehicle insurance coverage.

Increase young driver’s safety!
Young drivers between 17 and 19 years accounts for 9% of the fatal road accidents in the UK! This is a single of principal factors why they spend the highest motor insurance coverage premiums nonetheless this will not solve the matter. The Government needs to take special measures to enhance the awareness of young drivers and incorporate measures like Graduated Driver Licensing to increase the safety of young drivers.

This 5 point strategy can truly support to cut down motor insurance coverage charges and above all, boost the safety measures for drivers in the UK.