Tiger Watch is the monthly car insurance price monitor from Tiger.co.uk, an independent car insurance comparison
The May 2013 Tiger Watch figures bring generally excellent news for motorists who are about to receive their car insurance renewal quotes. In summary, the results show a 4.9% year-on year drop in pricing, with male motorists (and particularly younger male motorists) being the major beneficiary of this. Compared to prices recorded in April 2012, Tiger Watch also shows prices decreasing by about 1.5%.
On a negative note, Tiger Watch has consistently reported big increases in car insurance prices for younger women motorists since before the implementation of the EU Gender Directive at the end of last year. The May 2013 results show that the 20 year-old female driver profile that Tiger.co.uk analyses has seen an annual increase in premiums of over 37%. As insurance providers adjust their pricing strategies to comply with the new EU legislation, the UK’s young women drivers are suffering at a time when all other driver profiles are seeing substantial price decrease.
Andrew Goulborn, Tiger.co.uk’s Commercial Director, commented on the results: “What we are seeing here is generally great news for UK drivers, with premiums falling year-on-year back to levels we recorded in late 2010. The 5% year-on-year drop that we’ve reported this month will help ease the financial pressure on Britain’s hard pressed drivers. However the big price hikes that younger women drivers are seeing – and we along with others predicted that the EU Gender Directive would have this effect – are shocking. We would recommend that all motorists shop around to try to get a better renewal deal and for younger drivers in particular to consider a black box car insurance
policy as a means of potentially reducing premiums”.