Car insurance customers issued with warning

Tue, 07 Sep 2010

With September's new car registration under way, motorists have been warned not to be lulled into assuming a new model will always be more expensive to insure than an older one.

Moneysupermarket.com analysed the cost of car insurance premiums for five and ten-year-old models of Britain's favourite cars, compared to the cost of a new model.

The price comparison site found for a Ford Fiesta, for example, a 35-year-old male could pay 20 per cent less for annual car insurance for a 2010 model compared to the 2000 model.

Steve Sweeney, head of car insurance at Moneysupermarket.com, commented: "It's a common belief a new car will be more expensive to insure than an older model, but our research reveals there are some occasions where this is not the case."

Meanwhile, AA Insurance claimed recently that increasing cases of car insurance fraud is contributing to the fastest-ever rises in insurance premiums.
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