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Car insurance blow for older motorists

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Published Date: 11 August 2008
By Peter Woodman
CAR insurance bills are soaring by more than the rate of inflation, with older drivers bearing the brunt of the increases, new figures have shown.
Average premiums rose by 5.8 per cent between July 2007 and June this year, with the average price hitting £514.36, according to a survey by a motor insurance company.

Those over 65 faced the biggest rise – an average of 10 per cent.

Although drivers under the age of 25 are now paying the highest premiums – an average of just over £1,249 – they pay only 2.47 per cent more, compared with 2007. This was the lowest rise for any of the age groups.

The figures also showed that, on average, men continue to pay more for their car insurance than women – £540.49 against £470.47.



The full article contains 140 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 10 August 2008 10:03 PM
  • Source: The Scotsman
  • Location: Edinburgh
 
1

Jason,

Japan 11/08/2008 02:29:33
If I paid half that for my 187kW (250bhp) 2-litre turbo 4x4 off-roader I'd think I was being ripped off. And vehicle cost new and s/h is rule-of-thumb some 60% of UK prices. No wonder the motor trade refer to UK as "Treasure Island".
2

syntax,

Edinburgh 11/08/2008 05:04:03
ooops ! What's car insurance ?
3

Guga II,

Rockall 11/08/2008 06:48:31
Why have the older drivers been given the largest increase in premiums when it is the younger ones that have the most accidents?

Or is this a ploy by the insurance companies to make more money from an ageing population? Maybe they're not making enough profits from ripping off the average motorist.
4

Friar Tuck,

11/08/2008 17:26:18
I know that any increase in the price of fuel will be met with dismay, but, if the cost of insurance, road tax etc. was added on to the price of a litre of fuel, it would make more sense.

Just imagine, if you don't drive much, you won't pay much. Also, no more uninsured vehicles, everyone would be covered.

Too simple - maybe?
5

danbob,

11/08/2008 18:33:07
4# With your idea everybody would be claiming for every little scrape. The cost would be massive.
6

Upbeat,

11/08/2008 22:24:34
The insurance industry is an industry that has no need to offer value for money. This industry simply exploits a captive consumer ...the motorist. Insurers have little incentive to ensure that the payouts to garages, for small scale repair work, actually reflect the quality, the exact manhours or necessity of the work done. This is confirmed when the routine replacement of virtually undamaged components becomes part of the ridiculously overstated bill. In some segments of this industry it is by no means clear that the new parts refered to were ever needed or actually fitted in order to repair the vehicle in question. Meanwhile the insurers claw back any liability they might have signed up to, by exploiting small print excess levies, clauses etc to ensure that the pay out by them is as small as possible. They know only too well that the insured motorist will ultimately pay yet again, through devaluation of the once damaged vehicle vehicle, and/ or low pay outs for written off vehicles.

If everyone could be sure that the gravy train for vehicle repair workshops was kept truly in check by Insurance inspectors/assessors, then people might be happier should costs of motor insurance rise at rates approximating the rises in every other cost of living. But why should insurers ever bother to check any repair too closely when the consumer can so easily be "fleeced" yet again.

 

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