How Insurance Fraud Affects you

<h1>How Insurance Fraud Affects you</h1>Author: <a title="Peter Ecob" href="http://www.articlesbase.com/authors/peter-ecob/18116.htm">Peter Ecob</a> If you have tried to renew your home or car insurance recently you may well have noticed insurance premiums starting to increase. One of the main contributing factors in this increase is a rise in fraudulent insurance claims.

Fraudulent claims are made mostly on home and car insurance policies and according to the Association of British Insurers false claims cost UK insurance companies some £1.6billion a year.

So how does this affect you? While insurance companies have indicated a commitment to tackling the issue the fact remains that the problem costs them around £4million a day. This loss has to be recouped in some way and in many instances is passed onto the consumer. You are effectively paying for the fraudulent actions of other people; on average the impact of fraudulent claims adds around £40 onto your insurance premiums.

When it comes to car insurance you are effectively being hit with a double whammy. Not only are you paying for other peoples fraudulent activities but you are also paying to cover the UK’s growing number of uninsured drivers.

With these two factors forcing up the cost of car insurance it is no surprise that some people are noticing a rise in their premiums. These price increases are commonly found in the renewal letter sent by your insurance company.

However, rather than simply accept the increase you have the option to act and switch you car insurance to another provider. The car insurance market is fiercely competitive with companies eager to increase their customer base. You, the customer, can use this to your advantage. An online search for <a href="http://www.moneysupermarket.com/motor/">car insurance</a> can quickly illustrate the possible savings you make by moving to another insurance company.

If, like many other honest individuals, you are unwilling to pay for other people’s insurance fraud you can put pressure on your insurance company by switching your <a href="http://www.moneysupermarket.com/motor/">motor insurance</a> to another provider. You could even make a worthwhile saving in the process.About the Author: If your motor insurance premiums have gone up make use of the internet to search for cheaper <a href="http://www.moneysupermarket.com/motor/">car insurance</a> online.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/insurance-articles/how-insurance-fraud-affects-you-148371.html" title="How Insurance Fraud Affects you">How Insurance Fraud Affects you</a>

If you have tried to renew your home or car insurance recently you may well have noticed insurance premiums starting to increase. One of the main contributing factors in this increase is a rise in fraudulent insurance claims.

Fraudulent claims are made mostly on home and car insurance policies and according to the Association of British Insurers false claims cost UK insurance companies some £1.6billion a year.

So how does this affect you? While insurance companies have indicated a commitment to tackling the issue the fact remains that the problem costs them around £4million a day. This loss has to be recouped in some way and in many instances is passed onto the consumer. You are effectively paying for the fraudulent actions of other people; on average the impact of fraudulent claims adds around £40 onto your insurance premiums.

When it comes to car insurance you are effectively being hit with a double whammy. Not only are you paying for other peoples fraudulent activities but you are also paying to cover the UK’s growing number of uninsured drivers.

With these two factors forcing up the cost of car insurance it is no surprise that some people are noticing a rise in their premiums. These price increases are commonly found in the renewal letter sent by your insurance company.

However, rather than simply accept the increase you have the option to act and switch you car insurance to another provider. The car insurance market is fiercely competitive with companies eager to increase their customer base. You, the customer, can use this to your advantage. An online search for car insurance can quickly illustrate the possible savings you make by moving to another insurance company.

If, like many other honest individuals, you are unwilling to pay for other people’s insurance fraud you can put pressure on your insurance company by switching your motor insurance to another provider. You could even make a worthwhile saving in the process.

If your motor insurance premiums have gone up make use of the internet to search for cheaper car insurance online.

Rate this Article:

0 / 5 stars - 0 vote(s)

Re-Publish

Article Source: http://www.articlesbase.com/insurance-articles/how-insurance-fraud-affects-you-148371.html

Related Videos
Related Articles
Ask / Related Q&A

Play

Auto Insurance No Fault Benefits Overview

Play

How to Avoid Auto Insurance Scams

Play

Auto Insurance Policy

Play

Car Rentals Insurance

Play

5 Things to Know About Auto Insurance

Latest Insurance Articles
More from Peter Ecob

Auto Insurance Quotes Massachusetts - Car Insurance Quotes In Massachusetts For Dirt Cheap

By: Craig Realton | 28/11/2009
It can be very time-consuming to find affordable auto insurance quotes massachusetts rates. I found it very hard to find a reasonable auto insurance quotes massachusetts rates that I can actually be satisfied with. I had looked just about everywhere I possibly can to get the best auto insurance quotes massachusetts rates possible.I even went as far as to pick up that heavy yellow pages book just to look for a better rate elsewhere.

Auto Insurance Pricing - Dirt Cheap Auto Insurance Pricing

By: Craig Realton | 28/11/2009
Looking for a cheap and affordable auto insurance pricing can be very difficult. I found it very hard to find a reasonable auto insurance pricing that I can actually be satisfied with. I had looked just about everywhere I possibly can to get the best auto insurance pricing rates possible. I even tried going through my Yellow Pages phonebook to call each and every single auto insurance company in my area for the best auto insurance pricing rates.

Discount Auto Insurance - Discount Auto Insurance For Dirt Cheap

By: Craig Realton | 28/11/2009
It can be very time-consuming to find an affordable discount auto insurance. It was very hard for me to find an affordable discount auto insurance that I can be happy with. I had looked just about everywhere I possibly can to get the best discount auto insurance rates possible. I even went as far as to pick up that heavy yellow pages book just to look for a better discount auto insurance rate elsewhere.

Get Pet Quote - How to Find Affordable Low Cost Pet Insurance

By: Bryan Burbank | 28/11/2009
Pet insurance is something that we often do not think about until it is too late. Most of our pets are extended members of the family and when they get sick we want to take them to the vet to get better. It can be expensive is they need any kind of surgery so make sure you find affordable insurance.

Get Dental Quotes - How to Save Money on Dental Insurance

By: Bryan Burbank | 28/11/2009
If you do not like going to the dentist then you are not alone. It can cost a lot of money and not having good dental insurance can keep you from going regularly. There are low cost options that are available to you so check around and find the coverage you need.

Cheap Inexpensive Auto Insurance - Inexpensive Auto Insurance Even If You Are Barely Getting By

By: Craig Realton | 28/11/2009
Trying to find a cheap inexpensive auto insurance can be very difficult. I found it very hard to find a reasonable cheap inexpensive auto insurance that I can actually be satisfied with. I had looked just about everywhere I possibly can to get the best cheap inexpensive auto insurance possible. I even tried going through my Yellow Pages phonebook to call each and every single auto insurance company in my area for the best cheap inexpensive auto insurance rates.

DWI Auto Insurance - Auto Insurance For Cheap For Those That Have DUIs

By: Craig Realton | 28/11/2009
Trying to find a cheaper dwi auto insurance can be very difficult. I found it very hard to find a reasonable dwi auto insurance that I can actually be satisfied with.I have searched everywhere looking for the best dwi auto insurance deals possible.I even went as far as to pick up that heavy yellow pages book just to look for a better dwi auto insurance rate elsewhere.

Auto Insurance With DUI - Car Insurance With DUI That Saves You Money

By: Craig Realton | 28/11/2009
Trying to find a cheaper auto insurance with dui quotes can be very difficult.It was very hard for me to find an affordable auto insurance with dui that I can be happy with. I had looked just about everywhere I possibly can to get the best auto insurance with dui rates possible.I even went as far as to pick up that heavy yellow pages book just to look for a better auto insurance with dui rate elsewhere.

Don’t Waste Money on Home Insurance

By: Peter Ecob | 22/05/2007 | Insurance
An increasing number of UK homeowners are missing out on a great home insurance deal by taking out home insurance with their mortgage providers. This article highlights the importance of shopping around to find the right policy at a competitive price.

Boy Racer Car Insurance to Fall

By: Peter Ecob | 22/05/2007 | Loans
A major UK insurance provider has announced plans to treat drivers with six or nine penalty points as having clean records. A rise in the number of speed camera convictions is rendering penaly points meaningless when it comes to car insurance and so called boy racers are among the drivers set to benefit.

How Insurance Fraud Affects you

By: Peter Ecob | 16/05/2007 | Insurance
A growing trend of fraudulent insurance claims is pushing up the cost of UK insurance policies. Read about how this could affect you and what you can do to combat the problem.

Home Insurance and Alternative Accommodation

By: Peter Ecob | 16/05/2007 | Insurance
An important element of any home insuance policy is the provision of alternative accommodation. This article outlines why this is vital and looks at what accomodation cover you should secure when taking out house insurance.

Beat the Road Tax Blues With Cheaper Car Insurance

By: Peter Ecob | 27/03/2007 | Insurance
The latest budget from Gordon Brown has targeted drivers of inefficient cars, often branded as 'gas-guzzlers'. The 2007 budget has resulted in a new higher road tax band. This guide advises how you may be able to offset additional road tax costs by making savings on your car insurance.

A Guide to First Time Buyer Mortgages

By: Peter Ecob | 20/03/2007 | Mortgage
Arranging your first mortgage can be a daunting and stressful time. This guide sets out the obstacles first time buyers are likely to face and provides the information needed to make finding your mortgage as simple as possible.