Car insurance premiums rise by 5%
February 27, 2008 by admin
Filed under News, News-Insurance
Car insurance premiums have risen by five per cent over the course of the past year, according to new research. 
Findings from Sainsbury’s Bank revealed that the average premium was £497.26 in December 2007, compared with £472.52 in December 2006 which saw an increase of 5.24 per cent.
Joanne Mallon, Sainsbury’s Car insurance manager, said: “Car insurance premiums continue to rise which makes it all the more important for motorists to shop around for competitive insurance.”
She added that “the trick” is cutting your costs without cutting your cover.
Those motorists aged between 40 and 50 saw an average rise of seven per cent, which was the highest of any age group, higher even than the under 25s who had rises of just 6.59 per cent.
According to bank’s figures, men continue to pay more for their car insurance than women on average – £525.35 compared with £453.38.
Meanwhile, the bank has also warned drivers to be wary of ‘frosting’, a technique thieves use to take advantage of drivers who leave their cars unattended while warming up the engine.
