Car insurance prices fell by nearly 10% this year; mostly attributed to the industry cracking down on fraudulent claims.
Mark Bower-Dyke, Chairman of Be Wiser Insurance, comments:
"We'd like to congratulate the insurance companies and the government on reducing the costs of motor insurance. Bringing the costs of motoring down by reducing the number and costs of "dubious" claims is great news for everyone. Savings are being passed on to the consumer."
The government's crackdown on the "no-win-no-fee" policy, previously pursued by many accident claims management companies, has helped reduce claims costs that the insurance companies had to pay. A consequence of this is that insurance companies become more profitable and can therefore reduce the cost of motor insurance premiums.
Mark Bower-Dyke comments:
"At long last the insurance companies and the government appear to have worked together to help reduce the numbers and costs of often spurious claims."
Motorists who are cutting back on cover to save money now have less of an excuse to do so.
Mark Bower-Dyke concludes:
"Historically we've seen some clients cut back on the quality or breadth of cover to save money - but there's little reason for that now. It's important to be completely covered, whatever happens - and legal and breakdown cover were often left out by consumers seeking to save money. At Be Wiser we always arrange what's best for each individual client and with legal and breakdown cover included as standard you've always got peace of mind."
Note: Car insurance prices fell by nearly 10% this year http://www.bbc.co.uk/news/business-23474426