Car Insurance Premiums on the Increase
Posted by Simon Maddocks - 06/08/09 at 01:08 pmLatest Research from the AA shows car insurance premiums are on the rise
“Car insurance premiums are rising at their fastest rate for nearly a decade and increased by more than 1% per month over the past quarter, according to the latest benchmark AA British Insurance Premium Index. Between April and June the average quoted premium for an annual comprehensive car insurance policy increased by 3.5% to £778.13, and for the year ending June 2009, premiums rose by more than 11%.”
Cost to insurers have risen in recent years much of this due to fraud and personal injury claims rising, this in turn is having a direct impact on the prices we are all paying for car insurance. This all adds to the current economic situation faced by many motorists in the UK, many people feel they already have no choice but to opt for lower levels of cover for car insurance, this may not always be better in the long term in the event of an insurance claim or write of in the event of an accident, however lower cover such as third party car insurance is a better bet than driving without any insurance.
Our advice would be to look at keeping with fully comprehensive car insurance but look closer at your anual mileage and possibly increasing your excess, for further advice visit our Car Insurance Buyer’s Guide.