Car insurance news

Floods likely to increase cost of cheap car insurance

Thousands of motorists across the UK are likely to lose their cheap car insurance rates after severe flooding hit England, Scotland and Wales in June 2007.

The floods, which were particularly bad in Yorkshire, Lincolnshire and Shropshire, came after more than 150mm of rain fell in already-saturated ground in a short period of time.

A number of rivers burst their banks and flooded residential areas, causing many houses and cars to be left feet underwater.

A spokesperson for the cheap car insurance comparison site Confused.com said: "Millions of home and car owners could find themselves twice hit by the floods of recent days, as insurers look to recover the cost of claims.

"Insurers that are particularly hard hit by claims may have little choice but to increase premiums over the coming year.

Confused.com also warned that people who had experienced flooding this year can expect to see an even bigger rise in the cost of their motor insurance quotes and excesses.

 

 

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