CONCERN OVER RISING CAR INSURANCE PREMIUMS
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| Article date: 03/10/2005 : 15:41:00 |
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Drivers have been told to take the time to look around for the best car insurance deal, as latest figures show that premiums have substantially increased.
The results from the Sainsbury's car insurance index show that the average car insurance premium in July was £490.13, which was just over five per cent higher than the April figure of £465.18.
Drivers under 25 have been hit hardest as their average premiums have gone up to £1,078.77, a huge 26.7 per cent increase from April.
The average insurance premiums have increased for under 40s and under 50s as well, but the premiums for over 50s and over 65s have fallen, over 65s by over ten per cent.
Joanne Mallon, Sainsbury’s car insurance manager said: "Insuring your car equates to around 22 per cent of the total annual cost of driving but by shopping around, it is one of the easiest expenses to cut so it is certainly worthwhile spending a little more time on the phone or online."
The index results also saw an increase in premiums for males by 8.2 per cent and a decrease in premiums for females by 3.1 per cent from April.
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