AA: Car insurance increases set to continue
www.moneynews.co.uk > Insurance > AA: Car insurance increases set to continue
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AA: Car insurance increases set to continue
Tue 21st Oct 2008
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According to its British Insurance Premium Index, the average quote for fully comprehensive annual insurance rose by 3.1 per cent, or £22, over the last quarter.
A similar increase was seen in the preceding three months as well.
While the average quote for third party, fire and theft cover decreased by 0.6 per cent to £879, fewer providers are prepared to sell such policies to inexperienced and young drivers.
Premiums have risen even according to the Shoparound Index, which takes into account looking widely at different products.
Simon Douglas, director of AA Insurance, said that despite higher prices, the car insurance industry is still making an underwriting loss.
The AA British Insurance Premium Index has also found a 1.8 per cent, or £3, increase in home insurance over the last quarter.
In September, AA Insurance found that the insurance premium gap between the sexes had increased by 59 per cent since 2003, with costs rising for newly qualified young men but falling for women.
Click here for more insurance news.
Related News : Insurance |
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Related News : AA |
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