Car Insurance Premiums Continue To Increase

There appears to have been a steady increase seen in car insurance premiums for many motorists in the last twelve months or so. This is borne out by the latest data from who together with Towers Watson produce a car insurance price index.

It is concerning that the average cost of fully comprehensive car insurance has risen between q2 and q3 of 2015 by 4.8%.

Some car insurance premiums have gone up in recent months.

The latest index has been published for the third quarter of 2015 and it reveals that the average premium for fully comprehensive car insurance has risen to £629. This is an increase of 4.8% when compared to the figure for the second quarter of 2015 when premiums averaged £600. This is a hefty quarterly increase.

Such premiums have gone up by 8.1% over the last 12 months. Back in the third quarter of 2014, premiums averaged £582 so this equates to an increase of £47 per annum.

It is also worth pointing out that in November drivers are going to find their premiums increase even further as this is when the increase in insurance premium tax announced by the Government commences. Motorists could obviously do without such bad news coming at a similar time.

So, what can you do to try to mitigate an increase in your premiums (other than the one due to the increase in insurance premium tax)? Well, you should seriously consider shopping around to try to improve on the premium you are being asked to pay for the same level of suitable cover. Far too many people decide to stay with the same insurance provider for a variety of reasons. Some assume that having switched to an insurance company as they were offering a great deal two or three years ago that they will continue to provide you with a competitive premium. Unfortunately, this is not always the case as some insurers may offer special deals to potential new customers rather than existing clients.

It really should not take you long to make some enquiries on the Internet to see if you can get cheaper car insurance from another provider shortly before your existing cover is coming up for renewal.