Car insurance news
Average cost of a motor insurance quote rises over 2006
Motorists seeking a cheap motor insurance quote are liable to be in for a shock in coming years as the price of the average car insurance premium is predicted to rise.
Research carried out by Sainsbury's Bank found that the increase has started already, with a small difference in the cost of motor insurance quotes already noticeable between January and July this year.
On average, for male drivers a motor insurance quote now costs £492.77, whilst car insurance for women costs £428.92.
Researchers noted that the cost increase is not the same across all age ranges, with motorists aged 25 to 39 seeing the biggest rise in car insurance rates. However, it is a different story for many elderly drivers, who saw the cost of a motor insurance quote fall as the average policy price for over 65s decreased by £2.3% to £333.34.
Richard Clark, a spokesman for Sainsbury's Bank, urged motorists to look around for the best deal: "There is strong competition in the car insurance industry so it pays to keep a close eye on your premiums and be prepared to shop around.
"Sadly, many motorists don't do this and they are potentially losing out on large savings, in some cases well over £100."