Research reveals rise in car insurance premiums

Wed, 13 Oct 2010

Private car insurance premiums rose strongly again in the third quarter, new research has revealed.

Despite this, the latest edition of the Confused.com/EMB Car Insurance Price Index shows that premiums are showing signs of slowing.

Indeed, the price comparison website explained that it seems the rises are finally starting to "run out of steam".

In the last 12 months, prices have risen by 37.5 per cent, with premiums now standing at £650 on average.

"Whilst it is undoubtedly more bad news for consumers, there is potentially light at the end of the tunnel with the hikes seemingly losing momentum," commented Darren Black, head of motoring at Confused.com.

The AA, meanwhile, has reported the biggest jump in the cost of car insurance since it started tracking the market.

The car insurance provider observed that young motorists have been forced to bear the brunt of the rise.

Indeed, premiums for 17 to 22-year-olds have risen by 47 per cent in a year.
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