Car Insurance Prices Tumble
by admin on Oct.22, 2011, under Car insurance
October 21, 2011, Press Dispensary. Finally, some good news for the UKÂs hard-pressed motorists. Independent car insurance comparison site Tiger.co.uk has published its Tiger Watch results for October and these indicate a significant drop in policy prices, reflecting increasing competition amongst UK motor insurance providers. Tiger Watch is the websiteÂs own price monitor and is based on an analysis of hundreds of car insurance quotes across a wide range of different driver profiles.
The study indicates that in October 2011 car insurance quotes were 4.3% lower than those recorded in the previous month and 1.9% below rates from a year ago  the first annual drop in prices since the price monitor was launched.
The overall figures for October mask some dramatic variations in pricing by gender and age. Twenty year-old drivers for example have seen their insurance premiums drop by around 7% versus a month ago, with rates for males and females now close to parity as insurers prepare for the implementation of an EU ban on the use of gender as a discriminating factor in the setting of motor insurance prices. Thirty-five year olds fared even better than this younger group, seeing their car insurance quotes drop an estimated 9% when compared to October 2010.
Conversely, the forty-five year old men analysed in the study have seen their policy prices increase by more than 25% over the last 12 months.
A spokesperson for Tiger.co.uk welcomed the apparent return of relatively cheap car insurance prices. ÂThe latest Tiger Watch results provide welcome news for motorists who have been experiencing massive increases in the cost of keeping a car on the road. Both insurance and fuel inflation have created motoring misery in the last eighteen months. Remember that quote prices in 2011 to date are still over 16% higher than the average rates we recorded last year.
Whilst the month on month and year on year drops in prices reflect the increasing levels of competition in the market, the massive variances that we see across different driver profiles highlight the need to shop around in order to find really competitive car insurance quotes. Always remember though that a cheap car insurance policy may not always offer the levels of cover that a motorist may require and that is why Tiger.co.uk has invested considerably in making sure that its quote results give clear guidance on policy inclusions and exclusions as well as levels of excess.Â
FOR FURTHER INFORMATION PLEASE CONTACT Jo Buck, Tiger.co.uk Tel: 01473 418513 Email: Site: www.tiger.co.uk
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