Ipswich 3rd February 2012
Tiger Watch is the monthly price monitor produced by car insurance comparison site Tiger.co.uk. It analyses hundreds of car insurance quotes each month across a range of different driver profiles in order to provide the industry’s most up to date snapshot of policy pricing trends.
The December 2011 report shows a continuation of the return to relative stability that has been seen in previous months. Although December prices were up 1.7% compared with those recorded in November 2011, the last three months have seen a drop of 2.2% versus the previous quarter, reflecting the return of more vigorous competition to the market.
Pricing across the whole of 2011, however, is a different story, with the price monitor showing that 2011 rates were almost 16.5% higher than those of 2010. This is the result of the massive increases of last year filtering through to 2011 pricing.
The figures show big differences across different gender and age groups. A spokesperson for the highly regarded car insurance comparison site commented: “We’ve seen a number of driver profiles such as younger females facing 23% increases in 2011 whereas other groups, such as 35-yearold men and women, have seen their rates go up about 7% - still well ahead of RPI but well below the kind of increases that have been grabbing headlines”.
The figures generally show that over the last 6 months of 2011, the market has stabilised and this is forecast to continue through to early 2012.
The spokesperson gave this advice to any drivers looking for insurance: “With price increases likely to be closer to RPI, the temptation may be just to renew an existing policy. We would recommend that all drivers always shop around for insurance at renewal, using a specialist car insurance comparison site like Tiger.co.uk to make sure that you find not only cheap car insurance, but a policy that gives you the level of cover that you need. “