With the increase in the population, the death toll has almost been similar to its percentage. Thousands of people die every year due to road accident in vehicles. There are varieties of reasons behind the accident as it may either be one’s fault or the other driver’s mistake.
As we know that accidents are uncertain, the increase in the number of accidental cases has affected the pricing policy of the auto insurance providers. Day by day, the price of insurance premiums is rising and therefore more and more people have started looking for cheap auto insurance in UK.However, internet is the best place where you can find varieties of coverage and insurance plans offered by a large number of online insurance companies. As a matter of fact, UK citizens are carefully watched by the traffic authorities than people from any other country in the world.Surveillance cameras have been fitted on the traffic signals and streets so as to watch and control the traffic signal from the control room.
Well, this has caused distraction to the drivers which have resulted in an increase in accidental report in UK. The traffic cameras are as distracting as cell phones, changing CD or tuning radio while driving, etc. With an increase in the statistical report of accidental cases, there is more risk involved in UK. Therefore, insurance companies have increased the rate of auto insurance so as to minimise the accidental speed level and discourage people from driving speed and dangerously. Insurance companies also want to stay on the safe so they increase the rate of insurance premiums. Due to frequent insurance claims made by the policy holders, insurance company can face loss if the policy is sold at cheap rates. In order to keep floating in the business, insurance company adjust the compensation schemes by imposing a high rate on auto insurance to risky drivers or those with bad driving record.
The price of UK auto insurance is determined by various other factors, too. Auto insurance policy differs from one person to another and that is because of their different styles, profile, needs and requirements. For example: Mr. A owns a Ferrari and Mr. B owns a luggage van. We can see and easily understand that Ferrari needs more protection than the luggage van. Therefore, there may be a difference in the policy as per the type of vehicle which is being insured. Similarly, gender, age, marital status, etc. play a major role in determining the increasing rate of auto insurance in UK.