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Insurance premiums for motorists across Britain are set to soar this year as insurance companies try to recover from a record number of claims in 2010, it has been revealed. According to the figures released by accountancy firm Deloitte as part of their analysis of the UK car insurance industry, motoring insurance firms suffered losses of up to £2billion last year, which has led to most providers increasing their premiums in an attempt to try and recover some of these losses. It is thought that for every 100 pence an insurance company received as premium in Britain last year, an estimated 120 pence was then paid out to drivers who claimed on their premiums. Despite an average increase of 10 per cent on car insurance premiums in the UK every year, a dramatic surge in claims in 2010 has meant that most insurance providers incurred a loss last year. This means that many insurance providers will look to increase their car insurance premiums even further to try and recoup some of these losses, and even then, it is estimated that most insurance companies will not break even until at least 2012. This revelation is set to add even more pressure to motorists in Britain, with the AA recently announcing that insurance policies on new cars look set to rise by as much as 30 per cent. For more information on personal injury accident claims visit http://www.paulrooney.co.uk/
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