Car insurance providers raise premiums
New research by price comparison site Gocompare.com shows that car insurance providers are hiking their prices at the fastest rate for ten years.
According to research by financial advice website Gocompare.com, the rate at which prices have increased is the highest for ten years while now is a particularly "unwelcome" time to introduce hikes.
August and September are the busiest months for policy renewals, according to the site, and car insurance providers are raising premiums in order to coincide with this more active season.
Gocompare.com has advised motorists to check to see if they can find a better car insurance provider than their current one to make the most of any savings which could be on offer.
It cited recent research by Igo4 which showed that the big four car insurance providers actually dropped their prices by 0.34 per cent between April and May this year.
Lynsey Walden, spokesperson for Gocompare.com, said: "Many drivers will have been protected from the increases earlier in the year, but the harsh reality will be landing on millions of doormats very soon in the shape of car insurance renewal forms.
"Most insurance companies don't tell you how much your premium is going up by in their renewal letters, so people need to get online and do a quick check rather than simply renewing for another year," she added.
An industry figure recently said that the cost of car insurance premiums can be reduced by locking up the vehicle at night.
Ian Crowder, spokesperson for car insurance provider the AA, said that many people's garages are "full of junk" which could be removed or sold in order to make vehicles safer at night and allow car insurance policyholders to take advantage of any discounts.
© Copyright
Related Articles
- UK consumers 'stubborn' over service providers - 5th January, 2010
Almost 20 million Britons decided against moving to a new provider of everyday financial services and utilities in 2009, it was claimed today (January 5th).
A new study by GoCompare.com has indicated that, despite the tough economic landscape, 41 per cent of consumers have not reacted by attempting to seek better deals... - Car insurance consequences of drinking and driving highlighted by moneysupermarket.com - 23rd December, 2009
Motorists looking to maintain their cheap car insurance in the future have been told to avoid the temptation to drink and drive over the Christmas period.
According to moneysupermarket.com, male motorists are the most likely to have suffered a drink-driving conviction, with those aged between 31 and 40 in London coming top of the tree... - Auto insurance customers urged to get breakdown cover - 6th January, 2010
Auto insurance customers should ensure that they have breakdown cover as part of their policies in the current wintry conditions, it was suggested today (January 6th).
A 'big freeze' has descended on the UK in recent weeks, with heavy snow falling in various parts of the country and temperatures dropping far below normal for this time of year... - Scots get best auto insurance deals - 7th December, 2009
A new survey looking at the cost of auto insurance across regions of delete the UK has revealed that Scotland is home to some of the cheapest policies in the country.
Carried out by moneysupermarket.com, the research placed seven postal areas of Scotland in the top ten most inexpensive list - Dunfermline, Glenrothes, Aberdeen, Grangemouth, Elgin and two in Dundee... - Insurance claims hamper car loan customers - 18th January, 2010
An insurance company has revealed nearly a quarter of young drivers who have only had paid lessons have suffered an accident that required an insurance claim.
According to research by Aviva, a lack of experience amongst car loan customers means they are often at risk of being injured or killed on the roads... - Car loan customers reminded of scrappage scheme benefits - 13th January, 2010
The government's car scrappage scheme has led to almost 290,000 new car registrations in the UK, it has been confirmed.
With auto sales figures dwindling, the initiative was launched last year to provide consumers with discounts if they exchanged their old vehicles when purchasing newer, more fuel-efficient offerings... - AXA launches auto insurance iPhone app - 29th December, 2009
Auto insurance customers have received a boost after AXA confirmed that it has launched a new iPhone app to provide support in the event of a car accident.
The insurer conducted research which found that a worryingly high 66 per cent of drivers are unsure about what action to take if they are involved in a collision with another vehicle... - Britons' car neglect 'highlights need for auto insurance' - 17th December, 2009
Auto insurance should be at the forefront of Britons' minds as the winter weather draws in, according to a new report released today (December 17th).
The Post Office conducted a study which found that 48 per cent of car owners have neglected their vehicles to an extent this year in an attempt to tighten their purse strings... - How to save £1,000 on auto insurance - 16th December, 2009
A financial advice website has offered some money saving tips for auto insurance customers hoping to bring down premiums during the recession.
Moneysupermarket.com said that while car cover is vital on a day-to-day basis, consumers should not be paying over the odds for it - especially with purse strings tightening as Christmas comes ever closer... - Auto insurance claims '40 per cent higher in December' - 24th December, 2009
Auto insurance customers have been warned that 40 per cent more claims occur during December than in other months.
A study by leading firm AA Insurance found that the sizeable rise in the cases it witnesses can largely be explained by the hazardous conditions brought about by snow and black ice...