Car insurance increases in cost

Wed, 30 Apr 2008

According to recent research by financial services website MoneyExpert, it appears that car insurance bills are increasing for one out of every four road users. The increasing cost of motor insurance could hardly come at a worse time, as many consumers are increasingly financially stretched.

According to the report, the average cost of a car insurance premium has climbed by six per cent in the past year, and it is expected that this increase will continue. Experts advise motorists to shop around for the cheapest deals, and not simply accept price increases.

MoneyExpert spokesman Sean Gardner was reported as commenting: "It is worrying that when faced with an increase in car insurance premiums of more than double the rate of inflation so many drivers just shrug their shoulders and accept it. Motorists are already having to cope with soaring petrol prices - assuming they can actually get petrol. Insurance costs simply add to the burden."

Gardner reportedly continued: "The pressure on family finances is building from all sides with mortgages and supermarket bills rising. Any chance to save some cash should be grabbed with both hands. Drivers can shop around easily by comparing insurance quotes from different companies. Rising insurance costs are one problem you can at least try to steer clear off."
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