Car Insurers Wind Back the Clock on Pricing

Every month the boffins here at look at thousands of car insurance quotes in order to keep an eye on what’s happening to policy prices. This information is then used to create our very own motor insurance price monitor – Tiger Watch. We’re quite proud of it! As far as we’re aware it provides the most up to date snapshot of the market and provides drivers with a useful benchmark if a motor insurance renewal is looming. (If it is don’t forget to use to get some great quotes!). This month the Tiger Watch results brought good news for most of Britain’s motorists. Prices are down around 4% compared to September 2011 and are just under 3% lower than the prices we recorded last month. In fact, insurers have wound back the clock to offer the kind of rates that were in the market in September 2010! Whilst there’s no sign of champagne corks popping across the country at this news it does bring with it some welcome relief for the UK’s drivers as fuel prices continue to move in the other direction! And there’s even more good news for motorists who are beyond the first flush of youth. The driver profiles that we analyse at the 35, 45 and 55 year old age breaks have seen prices drop by between 9% and 18% when compared to those we saw a year ago! That means that there could be some great deals available in September for those drivers around these ages who have renewals coming up soon – yet another great reason to give a test drive! We are also seeing slightly better news for female motorists who have seen policy prices increase in recent months as insurers gear up for the implementation of the (in our view) barmy EU Gender Directive in December this year. September actually saw average prices for women drivers decrease by a greater amount than for males, restoring the traditional price advantage that women have enjoyed in this respect. Why are prices dropping? Quite simply it’s because competition amongst insurance providers is particularly fierce at the moment, driving down prices pretty much across the board. Great Olympics...Great Paralympics... Wiggins and Murray... Car insurance prices dropping. What a summer we’re having! Drive safely!
14/09/2012 13:45:23 Eren

Share this

comments powered by Disqus