TIGER WATCH - JANUARY 2016
CAR INSURANCE PREMIUMS CONTINUE TO RISE
2nd February 2016
Download as PDF
In 2015 car insurance prices increased by over 12% compared to the previous year, according to comparison site Tiger.co.uk. The site's latest January 2016 Tiger Watch results show that the increase in premiums has continued into the New Year.
Each month car insurance comparison site Tiger.co.uk analyses hundreds of car insurance quotes in order to produce its Tiger Watch index, providing Britain's motorists with the most up to date snapshot of pricing trends.
The January 2016 Tiger Watch results reveal a continuation of the market inflation that blighted the last six months of 2015. Overall, rates have increased by 0.2% over the last month - perhaps not too shocking when viewed in isolation. However the longer term view paints a very different picture, with drivers receiving their renewal notices seeing premiums soar by over 31% compared to prices paid twelve months ago.
Tiger.co.uk's Commercial Director, Andrew Goulborn, advised motorists of the need to shop around at car insurance renewal: "We're seeing lots of price movement in the market and younger drivers in particular may be seeing their renewal prices rocket. It's plain to see from our monthly graph that car insurance inflation is a very real problem for drivers at present and we'd always recommend that all motorists shop around to make sure they get the very best value for money without compromising on levels of cover and customer service".
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based 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).