July Car Insurance Prices Drop 5%
TIGER WATCH – JULY 2011
car insurance comparison site Tiger.co.uk has today released its July “Tiger Watch” results. Tiger Watch is the sites unique price monitor that looks at hundreds of car insurance quotes each month using a range of different driver profiles in order to produce an estimate of average market prices.
We welcome the apparent drop in car insurance prices in July as insurers get more competitive but annual inflation is still running at over 17%
The good news for Britain’s hard pressed motorists is that the July results indicate that prices actually fell by just over 5% compared to June 2011 – the biggest decrease recorded since the monitor was launched at the beginning of 2010. This follows a sustained period of inflation over the last 12 months, with February being the only other month to record a month-on-month decrease.
Looking at the broader picture, year-on-year inflation is now running at just over 17% - still well above RPI but substantially below the 30%+ annual increases in car insurance prices seen in recent months.
The Tiger Watch results indicated that young women continue to be the most affected by this inflation, with increases for a 20 year-old female driver running at 36% year-on-year. Conversely prices actually fell year-on-year for slightly older female drivers, with 35-year old women seeing a 7% drop in prices compared with July 2010 premiums.
A spokesperson for Tiger.co.uk commented: “We welcome the apparent drop in car insurance prices in July as insurers get more competitive but annual inflation is still running at over 17% and this continues to cause real misery for many of the UK’s motorists. Remember that these increases are on top of significant 2010 increases. Greater numbers of personal injury claims, high levels of uninsured driving and motor insurance fraud are continuing to contribute towards increased prices. We would recommend that all drivers shop around rather than just renewing their insurance – independent and accurate car insurance comparison sites like Tiger.co.uk make this quick and easy and could save motorists hundreds of pounds”.
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Notes for editors
For further information, please contact:
Joanna Buck or Andrew Goulborn
Tel: 01473 418513
Site: www.tiger.co.uk http://bit.ly/odFzau
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