A report by respected law firm, Weightmans, who act on behalf of several insurance companies, revealed this week that the number of claims as the result of road traffic accidents dropped by 7% in the past year.
Yet despite this reduction, and an accompanying reduction in the average amount paid to Claimants in Damages, policy premiums have risen by an average of £110 in the same 12 month period - an increase over 14%.
Compounding this are the three increases in insurance premium tax (IPT) over the past two years - and a further planned rise to 12% in June but, this aside, the majority of the increase in premium costs has come from the insurers.
Commenting on the report Steve Green, Head of Personal Injury and Clinical Negligence at Fosters said "For many years Claimants have been the whipping boy of the insurance industry with anything from bogus to inflated claims being blamed for the seemingly inevitable increase in insurance premiums. These figures show that is far from the whole picture, if indeed it ever was. The vast majority of those who bring a claim are genuine with real injuries and do not take to compensation route likely."
If you have been injured as a result of someone else's negligence you may be entitled to pursue a claim. For a free initial chat/further information please contact our Personal Injury Solicitors using the contact us email link or on 01603 620508.