Car Insurance Rates Drop To A Four Year Low
Car insurance rates are still falling according to Tiger Watch, the UK's most up to date car insurance price monitor. July 2014 Tiger Watch data reveals that car insurance premiums have dropped to a four year low and that the fall in prices since June is the largest recorded drop since Tiger Watch was created at the beginning of 2010.
According to Tiger Watch, which is the result of the analysis of hundreds of car insurance quotes each month, rates dropped around 8.5% compared to those seen a month ago. Looking at the annual picture, prices fell by 11.5%. Falls in prices rates for younger women motorists were a key factor behind this decline, with year-on-year decreases of up to 32% seen for some driver profiles.
Andrew Goulborn, Tiger.co.uk's Commercial Director, admitted that the scale of the decline in rates had not been predicted: "In June we were speculating that the overall fall in car insurance premiums that we've been seeing recently were probably coming to an end and that we expected premiums to harden over towards the end of 2014. The latest Tiger Watch data suggests that rates are continuing to fall, benefiting young drivers - and in particular younger females - as the market continues to come to terms with the EU Gender Directive and with the increasing the number of telematics insurance products available. Tiger.co.uk has, we believe, more of these telematics brands on offer than other comparison sites and for many young UK motorists they offer access to a much more affordable insurance solution".