Johan Strydom
9 Posts
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Car Insurance Relief for Motorists Car insurance prices remain
relatively stable in November according to leading car insurance
comparison site Tiger.co.uk. The independent website analyses
hundreds of car insurance quotes each month across a wide range of
driver profiles in order to create its own price monitor, Tiger
Watch. This price monitor gives the earliest available accurate
indication of movements in policy pricing and provides guidance
both for UK drivers and for the insurance industry. November’s data
shows that overall prices are up 2.8% versus last year, a rate of
inflation below RPI. This follows a year-on-year drop of 1.9% in
pricing last month and will provide some welcome relief to
motorists hit by double digit inflation over the last 18 months.
Looked at on a quarterly basis, prices are actually falling, with
prices for the last three months actually showing a 5.1% drop
versus the previous 3 month period. And this despite a
month-on-month increase of 4.7% when November’s quote data is
compared to that of a month ago. However, a spokesman for the car
insurance comparison site warned against complacency: “Whilst it’s
good to see the recent fall in policy rates, this does follow a
sustained period of very high inflation in car insurance prices.
Tiger.co.uk estimates that average prices across the whole of 2011
will still be about 16.4% higher than average 2010 prices – three
times the latest RPI estimate. Given this, we recommend that all
drivers shop around when renewing insurance, using a site like
Tiger.co.uk to look not just for cheap car insurance quotes but
also to ensure that they get the most appropriate level of cover”.
The research also identified a number of demographic groups who
continue to face massive rises in costs. Tiger.co.uk’s spokesperson
continued: “Whilst the overall picture may show relative stability
in the market, Tiger Watch highlights a far from happy result for
some demographic groups. Our 45-year old male driver profile, for
example, saw costs increase by a staggering 22.6% when compared
with prices from a year ago. 25-year old females were not far
behind with a 17.1% increase. Again, given the kind of swings and
roundabouts we are seeing when it comes to pricing by age, gender
and other factors, it pays to compare car insurance rates across a
wide range of insurers to try and find the best possible price and
the most appropriate product”. [ENDS] About Tiger.co.uk:
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk
is a UK based, independent price comparison site, offering
insurance quotes from over 140 motor insurance brands. Call
Connection Ltd is authorised and regulated by the Financial
Services Authority (number 308374). For further information: Andrew
Goulborn – ag@callconnection.com Jo Buck – jb@callconnection.com
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