Drivers Afraid To Make Insurance Claims

The world of British auto insurance has always been a place where people followed misinformation and a significant number of bad decisions were commonplace. Lately, though, it seems as if this has been ratcheted up a couple of notches. The article in question speaks to the idea that people are willing try almost anything to bring down their car insurance. Making horrible financial decision is a huge part of it, as people are gambling by taking out an excess amount that makes their insurance policy largely unusable.

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How To Reduce The Number Of Uninsured Drivers

It’s a very good thing to reduce the number of drivers that are not insured. A lot of accidents involve unisured drivers because these tend to be the most dangerous on types of drivers on the road. Due to the number of previous insurance claims, most insurance brokers will either charge them way too much or simply not give them insurance at all. As a result, this means that people who do pay insurance will have to pay higher premiums because of them. It’s important to prevent this from getting worst and to help people keep their insurance premiums reasonable and affordable.

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Buying New Cars: The Dos And Donts

If you have come to the decision that it is time to buy a brand new car then you may be feeling very excited. You will probably be really eager to start driving your new car and experience the whole sense of pride that you will get. It is possible to be a bit careless with this type of purchase though and this can ruin the whole experience. You could end up feeling very regretful about your purchase if you do not take care. Here are a few of the dos and don’ts to help you ensure that you only enjoy the experience.

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The Causes For Increasingly Higher Car Insurance Rates

Even though car insurance has always been a pricy expense, in the recent years it has been getting worse and worse. Over the past 12 months, insurance rates have increased almost a half. New & young car owners have to suffer even worse than the rest of people. Young driver rates prices increased by more than half this year. Everyone seems to have felt the impact of these insurance increases. There are many twenty-two year old drivers in that young driver age group who are having to pay much more even though they have been driving for years and have perfectly clean records.

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How Credit History Affects Car Insurance Premiums

Insurance scores are affected by credit information ever since a new formula was created by the Fair Isaac Corporation (FICO) in the late 1990s. Scores were generated in correlation with expected claims costs by using different weights for variables from the same aggregate data. Assuming other factors remain the same, higher claims costs are expected for people with lower credit ratings. This finding spurred the use of credit information by auto insurance companies in assessing risks and setting rates.

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