Insurance premiums high as insurers ignore claim-free driving
Millions of motorists may be paying inflated insurance premiums because insurers are not taking into account up to 16 years’ worth of claim-free driving, according to Auto Express.
Latest research has revealed motorists who change insurance provider may not be able to transfer the full number of years they have driven without making a claim, thus resulting in a higher premium something which insurers have strongly claimed is a result of an increased number of personal injury claims.
Auto Express conducted a “ring round” of insurers to find out what their maximum no claims bonus (NCB) was. The results are detailed below:
|Insurer||NCB limit (years)||NCB transfer limit (years)|
|RSA (inc. More Than)||9||9|
*Insurer indicates extra years were accrued but doesn't specify how many.
The research follows hot on the heels of a recent survey commissioned by RJW Slater & Gordon which discovered 65% of claimants involved in a road traffic accident were initially contacted by an insurance company about making a claim.
The personal injury industry is being blamed for ever-increasing insurance premiums. However this new research suggests not only is the insurance industry contributing to a large majority of personal injury claims, there are in fact steps they can take now to potentially lower insurance premiums of no claims drivers.
Source: Auto News
Content correct at time of publication