Maw Comms news
28 Feb, 17 Gocompare.com comments on changes to compensation payments that could add £75 car insurance premiums
The Ministry of Justice has decided to reduce the discount rate used in calculations for compensation payments for those who suffer long-term injuries, and the net result could well be higher insurance premiums for drivers.
Matt Oliver from Gocompare.com Car Insurance, commented: “First IPT increases and now this! Drivers are being hit with news about rising costs left, right and centre at the moment. In terms of their insurance, there are likely to be only two things that motorists need to understand – car insurance premiums are going up this year and the only way to be sure you get the best price possible for your specific circumstances is to shoparound when your renewal comes through.
“In general, we are expecting car insurance prices to continue rising this year, but different insurers will always take a slightly different view of you and your car, when it comes to insurance risk. Therefore, when prices are rising, it is more important than ever not to accept the premium your current insurer is offering, but check to see if you can get a better deal elsewhere. The savings from shopping around this year could be significant and drivers need to give themselves enough time at renewal to do a proper job, rather than just letting their insurer role them over for another year.”
-ends-
For further information please contact:
Anders Nilsson or Martyn John at Gocompare.com on 01633 654 054 / 01633 654 725
Gordon, Jason or Liz at MAW Communications on 01603 505 845
Notes to editors:
Gocompare.com is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs. Gocompare.com does not charge people to use its services, and it does not accept advertising or sponsored listings, so all product comparisons are unbiased. Gocompare.com makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site. Gocompare.com does not sell its customers’ data.
When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. Gocompare.com has remained dedicated to helping people choose the most appropriate products rather than just the cheapest, and has teamed up with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.
Gocompare.com is the only comparison website to be invited to join the British Insurance Brokers’ Association (BIBA) and is authorised and regulated by the Financial Conduct Authority (FCA).
