Fall In Car Insurance Pricing

Tiger Watch is a car insurance price monitor that provides the most up to date snapshot of changes in policy pricing through the analysis of hundreds of motor insurance quotations each month. The monitor, produced by independent motor insurance comparison site Tiger.co.uk, has published its September results and these are generally good news for Britain’s motorists. Tiger Watch shows that premiums in September 2012 have dropped on average by 4% compared to those of September last year and are some 2.9% lower than prices recorded month ago. Insurance policy premiums in September 2012 are now the same as those recorded two years ago, with the most significant annual price drops being recorded for drivers of both sexes aged between 35 and 55. These driver profiles saw their car insurance quotes drop by between 9% and 18% compared to a 12 months ago. Tiger Watch also reveals that women drivers are also faring better this month, following several months in which policy prices for females have been increasing whilst their male counterparts have been enjoying price reductions. In the six months to August 2012, the UK’s female drivers saw their relative pricing swing from a 12% advantage to a worse than parity position. In September, however, this trend reversed, with female motorists seeing an average month-on-month decrease in prices of some 4.7%. This contrasts with a decrease in male pricing of only 1.1%. The changing fortunes of Britain’s male and female drivers can be clearly illustrated, with the December 2012 implementation of the EU Gender Directive creating great volatility in women’s car insurance pricing: Andrew Goulborn, Tiger.co.uk’s Commercial Director, commented on the latest Tiger Watch results: ““Generally we are seeing pricing trends that are better news for motorists. Prices are largely back to where they were two years ago as competition between insurance providers remains fierce. The driver profiles that we look at in the 35-55 year-old range are benefiting from this the most with double digit price drops compared to a year ago. There’s been an fascinating correction in female policy pricing too, with the recent trend towards increased prices for women drivers reversing in September. We would recommend that all drivers compare car insurance prices at renewal using Tiger.co.uk in order to access almost 100 motor insurance brands including a choice of more telematics insurance brands than any other comparison site”.
14/09/2012 09:33:52 Eren
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