Ipswich, 12th March 2012
Car insurance comparison site Tiger.co.uk today unveiled the results of its March 2012 “Tiger Watch” car insurance quote
research. Analysis of hundreds of motor insurance quotations indicates that policy prices continue to fall in March, a relief for motorists who have been hit by both insurance and fuel price increases in the last two years.
The research estimates that prices in March 2012 have fallen by 0.8% compared with prices a month ago. Compared with premiums in March 2011, Tiger Watch shows a fall of 1.9%.
Looking at the quarterly picture, the first three months of 2012 show a drop of 0.3% compared with average prices in the last quarter of 2011. Compare car insurance
prices against the first three months of last year and they are almost the same – with inflation of just 0.1%.
There are some interesting gender and age variances in the driver profiles that Tiger Watch looks at each month. The results showed that prices for male drivers have increased by 1.9% compared to prices last year. For female drivers, a different picture, with a decline in pricing of almost 6%. With new EU gender discrimination legislation for insurers coming into effect in December 2012, this variance in price movements by gender is in many ways counter-intuitive.
Andrew Goulborn, Tiger.co.uk’s Commercial Director offered the following observations: “Tiger Watch gives the one of the earliest indication of movements in car insurance pricing and the March 2012 results show that market competition is helping to keep premiums stable. However, this comes after a period of high inflation in 2010 and early 2011 – looking at the longer term picture we can see that average March 2012 prices are actually some 33% higher than the average that we recorded two years ago.
Also to be noted is that despite most motorists seeing little inflation in the market at present, young male drivers in particular are still experiencing increased rates – our 20 year-old male driver profile prices increased by over 5% compared with a year ago.
As always our advice is to shop around for the right cover at the right price by using a car insurance comparison site like Tiger.co.uk, where 5 minutes effort can let you compare car insurance prices from more than 90 brands”.