Why Car Insurance Premiums Soars High

Car insurances premium soars high because of fraudulent act in which some people involve in the insurance claims abuse the system, and in order for the car insurance company to make up for the losses they continuously increase car insurance premiums.

Corruption on the system can be found among those people involves in processing insurance claims, starting from claiming of the existing damage that is not resulted from a car accident by the customer up to the injuries of the person involve in the car accident with the help of some unscrupulous doctors that falsify bodily injuries to deceived insurance companies, since car insurance company is having a hard time proving exactly what damage is already existed before the accident and the damage that is cause by the accident, this type of abuse on the system continuously happened..

Another reason why car insurances soar high is because of those people that are behind their wheel without any insurance, and to protect you from these people who do not have any insurance you opt to get "uninsured motorist" coverage to protect you in case you get involved in an accident with those kind of motorist, therefore it can cost you extra. Another thing is that, a person who do not have any insurance can take money from the system when they get involve in an accident with the person who has an insurance that is at fault, through the insured driver's liability coverage in which insurance company is aware of and passes the cost onto those who have insurance policies.

All in all when you acquired for insurance you have to pay more to protect yourself from other people who do not care about having any insurance and to cover the cost that that insurance company loose due to corruption on the system, and this can cause your car insurance premiums soars high.

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Comments

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Thanks in Advance
Shubhra

August 24, 2009 at 7:46 PM

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