Day: September 11, 2020

Car insurers criticised as claims plummet by half during lockdown

Lockdown constraints brought about the number of motor insurance claims to plummet by 48 per cent in excess of the second quarter of the year, in accordance to details from the Association of British Insurers (ABI). 

There ended up 324,000 new claims recorded amongst April and June 2020, down from 678,000 in excess of the very same period of time last year. The average value of claims rose significantly, though, up 27 per cent to £4,600, the major quarter-to-quarter increase on history, and an maximize brought about by each a bounce in the cost of theft and accidental harm claims. Particular personal injury claims, meanwhile, amplified by 34 per cent to an average of £19,500.

The ABI also published details demonstrating that the value of claims settled in the second quarter was down five per cent, whilst this demonstrates claims built during the earlier quarter, as insurance payouts tend to

Read More