CAR INSURANCE PRICE RISE SHOCK
Tiger.co.uk reports a marked increase in car insurance policy pricing in May, with rates over 5% higher than those recorded just a month ago.
Tiger Watch is the monthly car insurance price monitor produced by comparison site Tiger.co.uk. It provides a monthly market snapshot that gives UK motorists the most up to date overview of premium price trends.
Its latest analysis of May 2015 prices indicates a significant increase in rates, with prices up over 5.3% compared to those recorded just a month ago and some 14.5% above the premiums seen in May 2014. Following a long period of relative stability in car insurance pricing, the latest figures are the highest recorded since February 2013 and could indicate the beginning of a much-anticipated hardening in the market.
Andrew Goulborn, Tiger.co.uk's Commercial Director, reflected on the latest set of Tiger Watch results: "We've seen a very sharp increase in pricing in May, with most of our driver profiles seeing significant price inflation. We will watch with interest to see if the double-digit year-on-year increases in prices that we have seen this month continue into June and beyond. There is undoubtedly more volatility in car insurance pricing than we have seen for many months and we would advise all motorists with renewals due over the next couple of months to ensure that they shop around to make sure that they get a fair price without compromising levels of cover".
ABOUT TIGER.CO.UK Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based, independent motor insurance comparison site, offering insurance quotes from over 150 motor insurance brands. Call Connection Ltd is authorised and regulated by the Financial Conduct Authority (FCA number 308374).