Submitted by Ian Sterrett on Wednesday 25th October 2023
Published on Friday 3rd November 2023
Current status: Closed
Closed: Friday 3rd May 2024
Signatures: 792
Relevant Departments
Place a Cap on Motor Insurance Premium Increases
We want the Government to place a cap on the amount insurers can increase annual motor insurance premiums by, so that this cannot exceed inflation.
Car insurance premiums have increased by around 60% in the twelve months to August 2023. Even when shopping around using comparison sites, many motorists are finding a hefty increase in their premiums, well over the 9.1% inflation figure for that period.
Under the Road Traffic Act, having Motor Insurance is a legal requirement so insurers have a captive market. Insurers need to be prevented from what we believe is unfair profiteering.
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18.119.143.4 Sat, 04 May 2024 03:59:41 +0100
