New Year Insurance Cheer for UK Motorists

January 26, 2012, Ipswich, UK. Press Dispensary. UK car insurance costs are once again under the microscope as the government turns its attention to the impact that bogus whiplash claims may be having on policy prices. With the cost of insuring cars having risen by more than 50% over the last two years, there’s been little to cheer the nation’s hard-pressed driver.

News today from one of the UK’s leading car insurance comparison sites provided some welcome relief for motorists who are dreading the arrival of the next car insurance renewal quote. Tiger Watch is a monthly car insurance price monitor produced by Tiger.co.uk. Over the last two years it has given motorists and the motoring industry the earliest indication of monthly price trends in the market. Last month it revealed that prices across 2011 had risen by an average of just under 16.5% compared to 2010 rates. The monitor revealed, however, that since the middle of last year, prices have stabilised and even dropped by about 2% for many drivers.

Tiger Watch January 2012

The January 2012 Tiger Watch results show that this trend has continued into the new year. Rates for the month appear to have dropped 2.5% when compared to December 2011 car insurance quote prices and are about 0.3% lower than those recorded a year ago. The deflation in the market is being driven by increased competition from insurance providers.

A spokesperson for Tiger.co.uk commented: “Britain’s motorists have had an exceptionally hard time over the last couple of years, with steep increases in both fuel costs and car insurance prices. We have seen insurance premiums stabilise over the last seven months and at present we are seeing prices drop slightly for many drivers on renewal. However, as always, there are winners and losers here. Whilst many younger women drivers will be seeing decreases of between 5-10% in their prices, their male counterparts are seeing their rates tip the other way. Our January Tiger Watch shows prices for our 20 year-old male driver profile, for example, increase by over 15%.

Our advice to all drivers, male and female, young and old, is to always shop around when policies are up for renewal, using a trusted site like Tiger.co.uk. We found in a recent survey that 63% of insurance shoppers saved over £100 through our site, with over 41% of these saving in excess of £300. But remember not just to shop for cheap car insurance but to always make sure that the policy provides a suitable level of cover.”

- ends -

FOR FURTHER INFORMATION PLEASE CONTACT
Jo Buck, Tiger.co.uk
Tel: 01473 418513
Email:
Site: www.tiger.co.uk