MIB: premium rises ‘alarming’
The Motor Insurance Bureau has reacted to news from the ABI that the average motor premium paid rose by nine per cent in 2017 to a record high.
Responding to the figures, Ashton West, chief executive at MIB, said, ‘At MIB we compensate innocent victims involved in accidents with uninsured or ‘hit and run’ drivers. In the last year or so, for the first time in a decade or more, we are starting to see the downward trend of uninsured driving claims actually change direction, and we have started to see it increase. At the same time the ABI’s latest Motor Insurance Premium Tracker results alarmingly show that the cost of insurance continues to rise.
‘We know that the cost of premiums is one of the reasons that people choose to drive without insurance. People rely on their cars on a daily basis, travelling to work or simply heading out to the shops, and this continuing rise could tempt more people to break the law if they struggle to find affordable cover. We know that people will have to make some tough choices but taking to the road without motor insurance shouldn’t be one of them. The consequences could be life changing. It is never worth the risk.’