Car insurance premiums 'down'
- Published: 03/07/2007
Average annual car insurance premiums have fallen by 4.6 per cent, a new study claims.
The report, from online car insurance comparison tool insurancewide.com, directly contradicts statistics from insurance brokers AA released today - which show that prices rose by 2.5 per cent.
The Insurancewide car insurance index showed that the average UK premium fell to £703 in June - from £738 in April 2007. This represents a drop of 4.6 per cent. Many of the direct insurers proved to be most competitive, the index showed.
"The recent fall in average premiums in the second quarter reflects the rates of almost every insurer and broker in the UK, including direct insurers," James Harrison, chief executive of Insurancewide.com, said today.
"The falling premiums reflect the competitive pressure insurers are under to retain and attract ever-savvier customers," he added.
An earlier report from the AA had claimed that car insurance premiums had reached their "highest ever level" - and that home insurance premiums were steadily dropping.
The report, from online car insurance comparison tool insurancewide.com, directly contradicts statistics from insurance brokers AA released today - which show that prices rose by 2.5 per cent.
The Insurancewide car insurance index showed that the average UK premium fell to £703 in June - from £738 in April 2007. This represents a drop of 4.6 per cent. Many of the direct insurers proved to be most competitive, the index showed.
"The recent fall in average premiums in the second quarter reflects the rates of almost every insurer and broker in the UK, including direct insurers," James Harrison, chief executive of Insurancewide.com, said today.
"The falling premiums reflect the competitive pressure insurers are under to retain and attract ever-savvier customers," he added.
An earlier report from the AA had claimed that car insurance premiums had reached their "highest ever level" - and that home insurance premiums were steadily dropping.