Labour aim to protect victims from motor insurance hikes
Motorists involved in non-fault accidents should be protected from resulting insurance hikes, Labour announced at Insurance Conference on Friday.
Currently, drivers involved in non-fault accidents that weren’t their fault are being punished by high insurance premiums.
Even if the at fault driver admitted full liability and met the full costs of repairs, many insurance companies use any reported incidents to calculate premiums.
Speaking at an insurance conference on Friday, Labour’s Shadow Transport Minister, John Woodcock MP, said Labour’s policy review will look to ban not-at-fault premium rises.
“Hard-pressed responsible drivers deserve a better deal, so Labour will explore the likely effect of banning insurance companies from assessing not-at-fault accidents when setting premiums”, said Woodcock.
With the average cost of a comprehensive policy rising over £50 in the past year to a staggering £1,500, any blameless drivers should avoid insurance hikes for non-fault claims.
Woodcock added: “Too many motorists whose vehicles get pranged by the reckless driving of other find their insurance premiums rocket as a result – that can’t be fair”.
Over 4.5 million claims were submitted to motor insurers last year, with over 50% of those claims estimated to be from a collision where only one car was involved.