Price hikes on car insurance expected

Motorists can very likely soon expect an increase on their car insurance premiums. This past year insurers had to pay out 300 million euros more than they received from contributions. Insurers have cut costs significantly over the past few years and increasing premiums now seems to be the only option, NOS reports. According to comparison website Independer, the increase is likely to be about 10 percent. "Per customer that comes down to an increase of a few bucks a year", Ruud Martens of the website told the broadcaster. De Nderlandsche Bank has been concerned about the financial position of insurers due to the huge competition on the market for some time. The bank wants insurers to take action.