Car insurance costs increase
Published on : 12/08/2008
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The cost of car insurance premiums increased by almost six per cent between July 2007 and June 2008, it has been claimed.
Figures from Sainsbury's Bank show that the premiums rose by 5.8 per cent, taking the average annual cost of car insurance to £514.36 compared with £486.13 last year.
Motorists aged over 65 years old fared the worst, experiencing price hikes of ten per cent, while drivers under the age of 25 saw increases of 2.47 per cent – the lowest of any age group.
It was also noted by Sainsbury's that men pay more than women for their car insurance, spending on average £540.49 annually compared with £470.47.
Commenting on these findings, Joanne Mallon, Sainsbury's car insurance manager, said that the reasons behind increased premiums include a rise in the cost of repairs and personal injury claims.
She added that by cutting out on dangerous practices such as eating and using mobiles behind the wheel vehicle users can help cut the cost of car insurance.
In more news from Sainsbury's Bank, motorists are being warned to check they are fully covered before they head abroad with the cars this summer.
