It is tough to be a car owner in the current economy with the amount of congestion on the streets increasing, the price of petrol sky rocketing, and more road taxes on their way supposedly after the election.
Outside of these concerns, there is also new research from the AA watch group that shows that car insurance is at an all time high, with more increases on their way due to the costs of paying the NHS for accident injuries, fraud, and higher claims.
With these factors to consider, it would be odd for AXA one of the former largest insurers in the UK to re-enter the market after it left car insurance brokering in 2004, but it has offering its services to a key aspect of the driving population.
At the centre point of their campaigns is the average experienced motorist that has had at least eight years since their last claim.
In order to secure this market, AXA is offering a 90% discount on all premiums to those who have not filed a claim in the past eight years, which is a large increase from the industry’s normal ratio of a 60% discount.
Director of AXA Insurance, Tina Shortle, stated that their research shows that drivers largely feel that they are not given any breaks or acknowledgement for being excellent drivers, which led AXA to focus their attention on this group.
The most impressive part of AXA new insurance policy is coverage up to £1m that covers loss of earnings and medical costs if a driver is injured in an accident that they did not cause. According to Shortle, they are the first insurance company to offer this type of coverage although many people often believe that they are covered under their current premiums.