Car insurance premiums on the rise, study finds

Tue, 26 Feb 2008

The average car insurance premium has increased by more than five per cent in the last year, a new study has shown.

A survey conducted by Sainsbury's Car Insurance found that in December 2007 the average car insurance premium was £497.26, a 5.24 per cent increase on the figure for December 2006 (£472.52).

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."

The study also found that on average men pay more than women for their car insurance while the most expensive cover is for those under 25 with the average car insurance premium costing this group around £1,256.

Ms Mallon added: "There are a number of factors leading to higher premiums, including a rise in the cost of personal injury claims and also repairs."

On Monday, a study by car insurance firm esure found that one in three people ignore faults with their cars to avoid paying for the cost of repairs.
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