CAR INSURANCE PRICES CLIMB AGAIN
Tiger.co.uk has published its monthly car insurance price monitor data and it highlights more bad news for UK motorists, continuing the significant price hike trend that was first reported by the site a month ago.
Last month Tiger.co.uk provided Britain's drivers with the first indication of significant price increases being recorded, with renewal premiums soaring by 20% - the result of insurers hardening rates as they look to return to profitability.
The latest Tiger Watch analysis of car insurance pricing confirms that this trend has continued into October, with year-on-year rate increases of up to 28% being recorded. This means that car insurance is now at an all-time high for UK motorists and, with Insurance Premium Tax set to increase from 6% to 9.5% in November, it would appear that even more motoring misery is on the way.
Commenting on the latest car insurance premium data, Tiger.co.uk's Commercial director, Andrew Goulborn, said: "We are continuing to see significant price increases across nearly every driver profile, with the exception of the very youngest motorists who are seeing premiums hold at last year's rates or even drop slightly. Most drivers who are due to renew their polices in the next month could well be looking at having to pay significantly more for cover. We're seeing an increase in traffic to Tiger.co.uk as more policyholders sensibly look to benchmark their renewal price using a car insurance comparison site. We would encourage all drivers to do this - many Tiger.co.uk shoppers have saved up to £300 on their policies".
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).