Insurance Premiums set to rise in 2010.

From: GSI Insurance
Published: Tue Jan 19 2010

Car owners could see insurance costs rise by up to 20 per cent over the coming year.

Insurance companies are warning that a rise in the cost of personal injury claims and increased fraud will push up premiums in the next 12 months.

Around 430,000 people claimed for whiplash injury during 2008, according to the AA, resulting in a compensation cost of 1.9 billion. Fraud costs have also increased during the past year going up by 17% which has added around 30 to the cost of all insurance premiums.

Insurance companies currently pay 105 in costs and claims for every 100 of premiums they take in. This mis-match has not been a problem in the past as they would recoup the difference by investing in the premiums in the stock market, but they are now struggling to do this with the current financial climate.

In these difficult times, every penny you can save is a help. GSI Insurance can offer Motor, Home and Commercial policies, so get in contact with us and see how much we could save you.

Please feel free to call us on 0800 612 9376, or put through a quote on our Website.
Company: GSI Insurance
Contact Name: MCrossy
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Contact Phone: 01227772775

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