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Best Price Car Insurance May Not Cover Road Rage

02 September 2010

Road rage incidents are only covered by one in eight car insurance policies latest figures show.

Defaqto’s consumer research also identified that policies covering road rage incidents are an important differentiator for consumers when comparing car insurance prices online.  This was found to be particularly true for the over 55s.

The number of policies offering cover for road rage has however increased, where in 2005 one percent offered cover six percent in 2010 now does.  The benefit limits range considerably for these incidents from £500 to £5,000 compensation as well as most offering professional counselling as an extra.

“Although this is a potentially useful benefit, the exclusions under this section are very clear and could make claiming difficult,” said Mike Powell, Defaqto’s Insight Analyst for General Insurance and report author.

“In the heat of the moment, many people may find it difficult to stay calm, and it could therefore be hard to prove to the insurer that the insured person did not contribute to the situation by anything that was said.”

Research by Lloyds TSB recently showed that September has traditionally been a month for car enthusiasts to upgrade their motor with this month introducing new registrations.  Around a quarter of personal loan applications in the UK are for new car purchases with the majority made by men, accounting for two thirds of applications.

“It seems that many of us are tempted by the appeal of a flashy car,” commented Evelyn Hamilton, Lloyds TSB loans director.

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