(1888PressRelease)
March 23, 2009 - However, insurance news website NoClaimsDiscount.co.uk has analyzed the facts of this matter by surveying a variety of insurance companies based in the UK. NoClaimsDiscount.co.uk contacted representatives from major insurance companies asking if they were raising prices this year, and discovered that the insurance companies mostly state that they are not planning to raise prices.
In its survey of insurance companies, NoClaimsDiscount.co.uk interviewed companies including the AA, RBS Insurance Group: Direct Line, Churchill and Privilege, Nationwide, Liverpool Victoria, Legal and General among others. All of the quotes from insurance company representatives seemed to indicate prices would either stay the same in 2009, or even be reduced. For example, Claire Foster from RBS Insurance said “Our Churchill motor offer is to not increase premiums next year. Therefore, customers taking out insurance with us now will pay the same or even less next year." Roy Beale from the Nationwide stated, "I can confirm that there are not currently any plans to increase insurance premiums for Nationwide customers"
Indeed, the only insurer stating a possible rise was the AA – the firm often quoted in the media pieces stating that premiums are going to rise. But even they seemed a little critical of current media scaremongering:
"We certainly don't expect to see the 20-pc premium increases that some industry commentators are predicting for 2009." -- Ian Crowder, AA Public Relations Manager.
Given that UK news headlines have stated that insurance costs will go up by as much as 20%, the discrepancy in the information given by the actual insurance companies is a confusing. In analysis of the financial facts and figures, it seems that insurance companies have investments which are currently returning far smaller dividends. As a result, although insurance companies currently state they are not raising costs for customers, it is possible this situation may change in the near future.
ABOUT NoClaimsDiscount.co.uk- NCD News covers insurance related news aimed at both the industry and consumers, providing a balanced look at developments that could affect its readership. You can find more information on the insurers covered in this article at http://www.noclaimsdiscount.co.uk/insurance
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