AA Insurance: Premiums 'increasing'
www.moneynews.co.uk > Insurance > AA Insurance: Premiums 'increasing'
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AA Insurance: Premiums 'increasing'
Wed 11th Apr 2007
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Research carried out by the group shows that car insurance premiums decreased marginally in the first quarter of 2007, by 0.41 per cent to £802.44 on average.
However, this figure is offset by longer term rises, with premiums believed to have risen by 5.8 per cent year-on-year.
AA research also shows that the average price of car insurance premiums are only £4 less than the record high of £806, the result of a 4.35 per cent increase in premiums during the last three months of 2006.
Kevin Sinclair, managing director of AA Insurance, said: "I had expected premiums to continue rising and I think the underlying pressure is still upward."
He added: "Most insurers continued to apply small increases in an effort to close the gap between premium income and claims costs."
Suggesting that further increases in premiums would take place as the year progresses, Mr Sinclair said it would be worth shopping around.
Related News : Insurance |
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Related News : AA |
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