The quarterly AA Insurance review of car insurance premiums has found that costs are on the rise again, with the average fully comprehensive policy now costing GBP700.
There has been an increase of over GBP20 compared with the previous quarter said AA Insurance and it is young driver car insurance that has seen the biggest increase, up by more than twice the overall average – GBP45. Along with all the other price rises consumers are seeing this latest one just reiterates how the cost of living is spiralling ever higher.
The best advice upon seeing these results is to shop around said AA Insurance. Look at different car insurance providers, having an increased voluntary excess or removing some of the features that are not needed. Following some of these steps may help keep that motor insurance bill down and save money.
A study carried out by esure car insurance has found that younger drivers are more likely to buy an environmentally friendly car than older drivers.
Over 80 percent of drivers under 25 would consider using a hybrid, electric or bio fuel car according to the esure survey results, reflecting their attitude to the future of the planet or perhaps their concern at the rising cost of fuel. In fact 20 percent of all drivers said they would think about moving to a more fuel efficient vehicle to save money.
The hybrid and electric cars are certainly cheaper to run than existing petrol models, though initial purchase cost is high. Car insurance premiums are also relatively high due to the cost of any repairs that may be needed. Being new and innovative means parts cost much more than regular models.
Excellent first quarter results for the Admiral group have raised expectations for a record year through the rest of 2008.
Turnover for the car insurance provider was up by 14 percent in Q1 compared with the same time last year at GBP232 million. More excellent news came with the increase in customer numbers that was also recorded. Admiral saw the number of customers rise by 17 percent, a factor that leads them to consider the possibility of a record year.
The CEO from Admiral insurance said that they would keep delivering good results in spite of the difficult trading conditions they are dealing with. Car insurance is something that everyone needs and by being competitive they can win more market share.