TIGER WATCH - MARCH 2016
CAR INSURANCE MISERY FOR MILLIONS
29th March 2016
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Car insurance premium inflation shows no sign of slowing. Tiger.co.uk's latest monthly price monitor shows rates in March 2016 hitting a new all-time high.
Car insurance prices continued to rise in March according to comparison site Tiger.co.uk. Its latest 'Tiger Watch' price monitor shows that prices increased by some 3.6% over the last month alone, and that year-on-year inflation is running at a massive 34.6%, with premiums in March reaching an all-time high.
The Tiger Watch monitor, now in its seventh year, is based on the analysis of hundreds of car insurance quotes each month and provides UK motorists with the most up to date snapshot of industry price trends.
Tiger.co.uk's Commercial Director, Andrew Goulborn, commented: "We're seeing further evidence of massive inflation in car insurance pricing, with this month's data showing increases of 20% - 30%+ for all of the driver profiles that we examine. Younger driver profiles were particularly badly affected. This inflation is being driven by insurers' hardening of rates as they look to return to profitability as well as the government's increase in Insurance Premium Tax last November. As ever, we recommend that all drivers shop around at renewal to benchmark premium prices and to ensure they're getting a good deal".
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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).