Ford Attempts To Reduce The Insurance On Their Cars
Tuesday, 2. August 2011
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With reports that insurance costs are continually rising and teenage insurance now said to average £4,000 per annum it seems that car makers are likely to wade in and fight the fight. Ford has announced a new service that will handle accident management claims. By cutting out injury lawyer referral fees it says its customers could soon be enjoying lower premiums. Selling customer data to lawyers has been very lucrative for insurers who can earn up to £1,000 per crash. Of course this cost has increased the cost of insurance premiums for everyone.
Ex Justice Secretary, Jack Straw called this practice the industry’s ‘dirty secret.’ Ford Accident Management will be run in partnership with claims firm Innovation Group.
They say that they will also cap the cost of hire and courtesy cars. Ford added that if the cost of claims made on Fords dropped the cost of premiums would follow. What do you think, share your thoughts with us all? By Graham Hill
