Car insurance news
12/05/2009
Average motor cover premiums risen 1% in first quarter 2009
Cheap car insurance customers have been advised to shop around for competitive quotes after initial signs of a rise in motor premium prices this year, according to a personal finance commentator in the national media.
Motor cover has increased by more than one per cent during the first quarter of 2009. The average officially quoted price for an annual comprehensive premium is now £751.60.
But Tricia Phillips, the Daily Mirror's personal finance expert, said, "By comparing the market, the average figure for a comprehensive policy will drop to £504.38."
Tricia advises drivers to consider keeping cars in garages to reduce premiums by 17 per cent. For young drivers, adding a parent can cut costs, and adding a co-habiting partner can lead to a saving of up to £100.
Policy price reductions can also be achieved by installing immobilisers or alarms, trying to avoid being caught for motoring offences and estimating annual mileages correctly.
She points out in her article that the current rise in premiums has come earlier than in the past five years or so.
The upward pressure on cheap car insurance rates has been driven by the rising cost of personal injury claims, fraud and theft.
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