Tue, 20.10.2009
Speed camera could help reduce cost of car insurance
By Samuel Tudor
HEREMore speed cameras could be one way to drive down the cost of motor insurance premiums.
According to Deloitte's annual Motor Insurance Survey, 76 per cent of insurance providers believe they would be able to make car cover cheaper if more of the mobile speed traps were introduced.
The speed camera claim comes after the survey also revealed that 85 per cent of car insurance companies admitted they expect their policies to cost more in 2010.
Rising costs faced by insurers are to blame for the price hike, stated Deloitte.
Glenn Gillard, a partner in financial services at the consultancy firm, said: "Motor insurance has been one of the most competitively priced financial products available in recent years, leaving little room for companies to absorb additional costs."
Earlier this month it was reported that drivers can reduce the cost of their car insurance premium by attending safety courses.
Utterly shameful - to encourage this twist, so that some road users may overlook instinct to find some very misplaced comfort and money enticement that the camera presence is somehow worth while is a desperate effort to win popularity.
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