Car Insurance Premiums Hit New Heights

Posted by admin

August 13, 2008

Car insurance premiums are rising to record levels, says the Telegraph.co.uk. If consumers weren’t being hit enough with rising costs in fuel, food, and electricity, now the average price of car insurance peaks over the £500 a year mark. These figures are reported by Sainsbury’s Car Insurance.

Young drivers are not the only group experiencing these higher costs either. Drivers over the age of 65 have seen the biggest increase of over 10% in the past year alone. While it still holds true that young drivers pay the highest premiums (rightfully so in most cases) rate hikes have only marginally gone up by 2.47%. Drivers under the age of 25 pay on average £1,249 per annum (or approximately $2,400 per year).

Managing director of Sainsbury’s Car Insurance, Joanne Mallon, stated: “Given that car insurance premiums are rising and the cost of driving is now at its highest for a number of years, it is all the more important for motorists to shop around for competitive insurance.”

So, overall insurance premiums have topped the £500 mark per year with an average increase of 5.81% across all age groups emphasising why it can truly pay to shop online for a better deal. Nothing to lose whilst potentially saving a few pounds just makes good sense.

Compare Car Insurance to see if you can get a better deal today.

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