Car insurance cost continues to rise

Tue, 13 Jul 2010

Car insurance prices continued to rise in the second quarter of 2010, with older drivers being hit particularly hard.

The latest Confused.com/EMB Car Insurance Price Index shows that average cost of a comprehensive car insurance policy rose by 14.2 during the period, adding £74 on to the average policy.

Meanwhile, drivers aged between 41and 55 years received the biggest quarterly increases, with areas such as Manchester and Merseyside also seeing increases.

Simon Lamble, product director at Confused.com said: "This is a massive blow for motorists who have already suffered at the hands of petrol price hikes and insurance premium tax increases, and unfortunately we do not think we've seen the worst of it.

"In the last two years visibility of the market through price comparison sites has kept prices down and driven up competition. In order to secure customers insurers have been forced to repeatedly slash their margins, but inevitably this could not continue."

One factor that has contributed to the rising cost of car insurance premiums recently has been the surge in personal injury claims .
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