This petition was submitted during the 2019-2024 parliament
Rejected petition Reduce the price of car insurance policies.
Implement a capped price on car insurance depending on the valuef of the car. For example, a car worth £1000 pay 10% of that value as insurance (experienced drivers). Put in a 40% capped price on the car depending on the engine size of the car price of the car and age of the driver (young drivers).
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There is a horrendous cost of living crisis Britain is battling through at the moment. The government needs to try and support the people who need it most, as much as they can. We believe by enforcing this within insurance businesses it can help stop greedy corporations receiving large profits while the rest of society suffers. An example being, Admiral said its group pre-tax profit had increased 4% during the first half of the year to £233.9m. Another statistic to illustrate this unjust situation may be, On Wednesday, the Office for National Statistics revealed that the quoted price for car insurance premiums across the industry had risen by 53.4% over the 12 months to July. Reference The Guardian Wednesday 16/08/2023.
This petition was rejected
Why was this petition rejected?
There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
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We have published the following petitions, which you might like to sign:
Introduce fixed prices for car insurance based on power to weight ratio and age: https://petition.parliament.uk/petitions/646793
Establish a Commission to investigate extortionate Car Insurance price rises: https://petition.parliament.uk/petitions/644067
We only reject petitions that don’t meet the petition standards.