AXA claim drivers can't afford excess
AXA, the car insurance behemoth, says that they've seen a big increase in the number of customers who are not able to authorise repairs to their damaged cars due to lack of cash to pay for the excess.
They said that , last year, 61% of motor claims saw drivers not having the money available in claims, "leaving people with potentially unroadworthy cars, or at the very least with damage that will deteriorate due to lack of repair".
One-third of motorists don't have enough in available savings to cover their excess, with 48% having savings of less than £500 and a third (34%) less than £200.
AXA found that nearly two thirds (62%) knew that at least part of their excess is voluntary, and with that, drivers might have cut their cost of insurance cover but if they can't afford to meet their part of a claim, they there's a chance they could be left with what is ostensibly a dangerous vehicle.
Sarah Vaughan from AXA says: "We appreciate that premiums have risen a lot in the last couple of years and we can understand consumers looking at ways of saving a bit of money. But if this means that they can't afford their excess, it is a completely false economy."
And fuel isn't getting any cheaper either! Hurray!