Cheap car insurance news
28/06/2007

Fraudsters add £40 to motor insurance quotes

The Association of British Insurers (ABI) has revealed that car insurance fraudsters raise the cost of everyone's motor insurance quotes by around £40.

Research by the insurance body looked at a number of areas of insurance and found that they were all being affected by people both inflating the value of legitimate claims and making false claims.

It estimates the total cost of insurance cheaters to be around £1.6bn per year or £4m every day - a cost which is met by increased van, home and motor insurance quotes.

A spokesperson for the ABI explained what the organisation was doing to reduce the cost of this illegal activity.

He said: "Honest customers should not have to pay for the cheats. We are devoting greater resources to weeding out the cheats and working together to detect and combat fraud.

"These figures highlight that greater deterrents, such as criminal prosecution, are needed to discourage fraud. This is why we are calling for police forces to be given more resources so that fraud can be treated with the seriousness it deserves."

 

 

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