Car insurance costs rise
Published on : 10/09/2007
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The cost of car insurance premiums in the UK has risen by almost £20 per year over the past year, according to new research.
The Sainsbury’s Bank Car Insurance Index also found that gender remains a factor in the cost of insurance, with premiums for men increasing by 5.2 per cent compared to a 3.1 per cent rise for women.
Despite the rising costs, the company’s car insurance manager Lucy Hunter felt there are still ways that drivers could still reduce the cost of their premiums:
"Premiums have been rising steadily and it has been predicted that this year, they could increase by as much as ten per cent. However, by shopping around, you can still reduce your premiums significantly."
The research was based on regular monthly monitoring by Consumer Intelligence of prices from insurance companies representing around 80 per cent of the market.
The release of the survey comes several weeks after European consultancy firm EMB warned that car insurance premiums are set to rise in the aftermath of the flooding experienced throughout England this summer.
