Online car insurance news
03/07/2007
Road safety not behind rising cost of cheap car insurance
The AA has revealed that road safety isn't the reason that cheap car insurance is becoming harder to find, despite the fact that the UK's position is dropping in the European safety tables.
2006 figures from the European Transport Safety Council have shown that other countries in Europe are making faster progress to cut road deaths than the UK. Whereas the UK had the lowest fatality rate in 2001, it is now down to third in the rankings.
Instead, the AA believes that cheap car insurance companies are having to pay out more in the way of claims because of personal injury claims and more advanced safety equipment in cars.
These costly claims then mean insurers have to put up the price of their motor insurance policies in order to cover their costs. This trend is reflected in 2006 insurance premiums, which rose 6% on the previous year and are expected to rise again in the second half of 2007.
A spokesperson for the AA said: "We do a quarterly survey of insurance premiums. In the first quarter of this year, [insurance premiums] were predicted to keep rising - but they flattened. [But] we think they will rise again."
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