"In the USA there are capped limits to how high premiums can be , with huge excess after you have a claim , this may be a better and fairer system than the uk "
There are problems with capped insurance rates, simply because the payouts made to third parties can be so enormous that the excesses become prohibitive and drivers end up driving without insurance again.
In the UK there were reports that one third of all motor insurance premiums were simply to pay for those who drove without insurance. (ie, if you are asked to pay £300, £100 is solely to pay for the drivers who don't have insurance but cause damage to third parties)
|
|