Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 17th of July 2018
February 23, 2010

Five-year-old cars excel in claims ratings

by Gill Montia

Story link: Five-year-old cars excel in claims ratings

Drivers of cars that have passed their fifth birthday are being alerted to the fact that they belong to the UK’s “most likely to claim” group of motorists.

According to Virgin Money Car Insurance, 9.6% of all motor claims processed by the firm were from drivers of five-year-old cars, with four-year-old cars following closely behind.

However, it should be noted that while cars of this age are more likely to be involved in an incident leading to a claim, this may not necessarily be a traffic accident.

The research also reveals that cars aged between three to six-years-old account for nearly 40% of all claims despite making up just 24% of cars on the road.

Meanwhile, cars aged 10 years account for over 6% of all claims and drivers with vehicles less than a year old account for just over 2%.

Virgin spokesman, Grant Bather, comments: “Drivers tend to change their car every three to five years and on this evidence they have some justification.”

He adds: “Looking at these statistics, people looking at buying a second hand car should also make sure that they have taken the necessary action to ensure that the car meets all of the road standards.”

 

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