January Car Insurance Price Hike
Tiger.co.uk, the car insurance comparison site, claims that car insurance prices rose substantially in January, with premiums over 6% higher than those seen just a month ago. Each month since January 2010, the site has published its Tiger Watch car insurance price monitor, examining a range of car insurance quote data in order to produce the UK's most up to date market pricing overview.
The latest Tiger Watch figures show that prices have been increasing month-on-month, fuelled by increases in rates for younger male drivers and for selected female age groups.
Looking at annual changes in premiums, the study shows better news for UK motorists, with policy rates falling by about 2.4% compared to the premiums recorded a year ago.
Commenting for Tiger.co.uk, Andrew Goulborn, the site's Commercial Director, said: "Although we are seeing annual price decreases of over 2%, there is volatility in the market that drivers need to take account of. At renewal time we would recommend that all drivers shop around and compare car insurance quotes using a site like Tiger.co.uk to check that their renewal rates are in line with the market movements. We would particularly recommend that young drivers should take a look at whether telematics insurance could give them a better deal than standard policies".