Car insurance costs may rise by over £180 when making a claim for an accident
Morning Live: Expert shares tips on car insurance
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Research from Compare the Market found annual costs rise to £844 if a driver has made an insurance claim in the past year. These figures are substantially higher than the average £660 premium a driver could pay if they have not claimed on their agreement.
Dan Hutson, Head of Motor Insurance at Compare the Market wanted it could be “costly” to make any claim on your policy.
He said: “Motorists need to be careful if they plan on driving more often now travel curbs have been lifted.
“Our figures show how costly it can be to renew your car insurance if you’ve recently made a claim.
“Whether an accident was your fault or not, making a claim will usually lead to an increase in your premium when you renew.
“The best way to minimise the impact on your premium if you have made a claim is to shop around for a cheaper deal when your policy ends.”
Compare the Market says the extra cost of making a claim will typically fall each year a driver does not submit any new claims.
After one or two years after an incident, drivers are only likely to pay £705 per year for cover.
But this is still up by around £45 on the base rate for those not involved in any accidents whatsoever.
Martin Lewis issues car insurance warning [COMMENT]
Car insurance rules changes will see prices rise [INSIGHT]
Car insurance could rise by £131 for every three penalty points [ANALYSIS]
Data from the group warns claims have slightly risen meaning more road users will see costs soar.
The data suggests there has been a 39 percent increase this Spring compared to last Winter.
Compare the Market has warned drivers do not need to claim for every accident they are involved in.
But they say drivers must tell their insurance provider if they have a crash, even if a claim is not made.
Save 10% on your MOT
It’s Kwik Fits’ Midsommer Madness sale and you can take 10% off your MOT Test with the UK’s #1 MOT tester – just click the link to book online.
Source: Read Full Article