35% rise in your Motor insurance
Owning a car has never been so expensive and it looks like its going to get much worse according to the motor insurance undustry. Hard pressed motorists who are already being pushed to the limit now look like they are in for another price hike to their car insurance premiums over the next 12 months.
Your no claims bonus worthless
According to London insurance broker Clive Spencer "The industry is bracing itself for a backlash from all sides when it announces an almost instant rise in insurance premiums of up to 35%"
The price rise will not only effect young and new drivers "its right across the board" Wether your a new or young driver or you have clocked up years of no claims bonus's the price rise will be the same.
What looks to be the steepest price hike in motor insurance history is due to many local and worldwide factors. The major factor in this latest rise is the global payouts that banks and insurance companies have had to pay out to victims of disasters on an unprecedented scale that is seeing some corporations going bust.
The economy is another factor. During times of austerity more and more drivers are driving without insurance. We are also seeing the highest number of fraudulent car insurance claims ever.
It will come as no conciliation to insured drivers that the price rises are not down to their own bad driving or the area they live and that global forces are at work or the fact that everybody is in the same boat or car as it were
