Ambulance chasers push car insurance premiums up
No-win no-fee lawyers are said to be the main cause of increasing car insurance premiums this year. Research shows that the average car insurance premium is set to rise 15 percent this year.
According to Consumer Intelligence, the average annual premium is £564.19, almost 20 percent higher than the same time last year – and is predicted to rise by 15 percent to £648.82 by January 2011.
There are two main factors contributing to the rise – the first are no-win no-fee solicitors whose ads on TV have seen many more people deciding to pursue personal injury claims after crashes, pushing up the amounts insurance companies have to pay out and therefore increasing premiums.
Given that many people are struggling with their finances at the moment, it is also believed that more people are driving without car insurance.
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