As a classic car owner you will probably also own a family saloon or hatchback for day to day use so will have to insure both vehicles. There are so many factors that affect how much you are charged by the insurance company for your cover one of which will no doubt be how much they have to pay out in claims each year.

You will probably be aware that there are numerous fraudulent motor insurance claims made each year and the more that can be detected then this may have a bearing on motor insurance premiums. Well you may be interested to read that, according to the Association of British Insurers (ABI), there was a fall in the number of such claims discovered last year when compared with the year before.

49,000 fraudulent motor insurance claims were discovered in 2021 with this being a drop of 7% in comparison to the previous year. The value of these claims totalled £577 million with this being a reduction of 1% when compared with 2020. Some credit must be given to the Insurance Fraud Bureau for their work in helping identify such instances.

It is unfortunate that fraudsters are probably having an impact upon how much the honest motorist is paying for their cover. Here in the UK we are going through a very difficult period economically with inflation being very high and expected to increase further in the coming months. So, this is something that policyholders could well do without so the more fraudulent motor insurance claims that are detected before funds are released the better.

Don’t forget that when you receive your classic car insurance renewal notice to obtain a competitive quote to see if you can save any money. In this respect, why not get in touch with us today to obtain a competitive quotation without any obligation. Who knows, we may be able to help save you some money.