Bogus Insurance Claims Push Up the Cost of Motoring

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(Free-Press-Release.com) July 23, 2010 -- Dishonest drivers making bogus claims on motor insurance policies have pushed the average motor insurance premium to a record high. Figures released by the Association of British Insurers, estimate that fraudulent insurance claims were up 14% on the previous year, while the value of claims also rose by 14% on 2008 figures.

Nick Starling of the Association of British Insurers said: "honest customers rightly object to having to pay higher premiums to subsidise the fraudulent minority…insurers need to continue to up their game in the war on the cheats."

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Bogus Insurance Claims Push Up the Cost of Motoring

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In a recent report from the AA, it appears that the cost of car insurance has grown at its fastest ever rate in recent months. The AA claim that this is largely due to a rise in fraudulent claims. In the three months to the end of June, car insurance premiums rose by a record 11.5% to take the average annual comprehensive car policy to £704. This is the largest increase recorded by the AA since it began tracking quarterly insurance premium trends 16 years ago.

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