Car Insurance Costs Continue To Rise
June 08, 2011, Ipswich. Press Dispensary.
Tiger Watch – May 2011
Insurance comparison site Tiger.co.uk published its May 2011 Tiger Watch results today. Tiger Watch monitors the price increases in the car insurance market by looking at hundreds of car insurance quotes
each month. The results show that car insurance prices continued their upward trend in May, with costs in the month being 29.4% higher than those of May 2010 and 2.3% higher than those returned in April 2011.
costs have increased over 10% in the last 3 months alone and drivers are routinely receiving insurance renewals with premiums that are £200 to £300 higher than those paid a year ago
A spokesperson for Tiger.co.uk commented: “Car insurance inflation shows no sign of slowing down and these increases are adding hundreds of pounds to annual motoring costs. Our Tiger Watch price monitor shows that costs have increased over 10% in the last 3 months alone and drivers are routinely receiving insurance renewals with premiums that are £200 to £300 higher than those paid a year ago – much higher for some drivers. We think that this trend is likely to continue across 2011, albeit with a slower rate of inflationary growth from August onwards. The year could still finish with costs around 25% higher than those seen in 2010.”
The Tiger.co.uk spokesperson went on to offer some advice to those motorists who are trying to find cheaper car insurance: “Our advice is to always shop around rather than just accepting a renewal price. Using an independent comparison site like Tiger.co.uk only takes a few minutes and by giving you access to a large number of UK insurers could result in significant savings on car insurance. Other tips for keeping costs down include not adding modifications to your car; considering (where legitimate) the addition of a second, more experienced driver to your policy; and paying for your insurance in one instalment rather than incurring the massive interest charges that are usually incurred with monthly payments”.
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Notes for editors
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 130 motor insurance brands. Call Connection Ltd is authorised and regulated by the Financial Services Authority (number 308374).
About Tiger Watch:
Tiger Watch looks at hundreds of car insurance policy prices each month across a range of consistent driver profiles and vehicles and calculates the average inflation across these prices on a month-by-month and year-by-year basis.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Goulborn, Tiger.co.uk
Tel: 01473 61248