Tiger Watch - November 2015
CAR INSURANCE PRICES SOAR AGAIN
24th November 2015
Car insurance comparison site Tiger.co.uk has released its Tiger Watch results for November 2015 and reported that premiums across the last three months are over 13% higher than those recorded in the previous three month period.
Car insurance premiums are on the rise according to the latest data from car insurance comparison site Tiger.co.uk. Research released as part of the site's monthly Tiger Watch price monitor shows that rates in November continued to rise following a significant hike in rates the previous month. Rates over the last three months have increased by some 13.7% compared to the previous three month period, and by over 24% when compared with the same period in 2014.
The increase in rates over the last year is clearly shown in this graph:
The Tiger Watch data, created from the analysis of thousands of car insurance quotes, showed that rates in November 2015 were 1.8% higher than those recorded just a month ago, representing an annual increase of almost 25%.
Commenting on the Tiger Watch results, the site's Commercial Director, Andrew Goulborn, commented: "We really are seeing substantial inflation in the market at the moment, being driven by both the recent increase in Insurance Premium Tax (this rose from 6% to 9.5% earlier this month) and by insurers hardening rates in order to try to restore profitability to their businesses. We're seeing pretty much every demographic affected by these increases - with the exception of younger male drivers for whom rates have remained fairly flat. Our advice to all UK drivers is to shop around at renewal to get the right policy at the right price."
|Name:||Joanna Buck - Senior Marketing Manager|
|Phone Number:||01473 542898|
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).