Car Insurance Premiums may Double Courtesy Equalities Bill
According to AA, car insurance premiums could double if the Equalities Bill extends to include the sale of insurance. The insurance provider says that age and sex plays a crucial role when it comes to Car Insurance and helps the industry to design products accordingly. If age discrimination is removed, premiums could be double for most of the middle-aged drivers of both men and women.
This warning was issued following a report into insurance and age from the Association of British Insurers (ABI). According to the ABI, limiting the use of age by insurers would be unjust and restrictive. The director of general insurance and health of ABI said that insurance providers use age only where it is necessary and by limiting the insurers to do so would mean higher premiums for all customers and limited choice. He feels that any law should deal with genuine discrimination and not insurance where age helps in tailoring custom made products at competitive price range.
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