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Car Insurance Rates To Increas...

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Car Insurance Rates To Increase This Year

98FM
98FM

07:24 15 May 2015


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Drivers are being warned that car insurance rates will continue to rise this year.

Motorists can expect premium increases of up to 20 percent.

Insurers have been hiking premiums for months now after a failed price war.

It meant that some companies were offering really cheap deals and not putting enough money aside to cover claims.

Its resulted in the cost of motor insurance going up by 2 percent in April but rates are 16 percent highter than the same time last year.

More traffic on the roads is also affecting premiums because it means more collisions.

Younger drivers are hardest hit by the move.


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