Motorists enjoy low insurance premiums - Car insurance - News - Moneyfacts

News

Motorists enjoy low insurance premiums

Motorists enjoy low insurance premiums

Category: Car insurance

Updated: 17/02/2014
First Published: 17/02/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Car insurance premiums have hit the headlines over recent years, not least with the predicted price hikes due to the EU gender equality rules.

Women's premiums were expected to soar with younger females looking to be the biggest losers, and overall everyone was expected to be hit by less accurate pricing.

Well, it looks like the cloud has passed and it's good news all round for motorists, with overall premiums over 15% down on those a year ago, according to the monthly price monitor Tiger Watch.

Prices studied this month actually reveal that they have they fallen to the same level as they were in 2010, well before talk of the EU directive.

In fact it is younger motorists who are benefitting the most with both male and female drivers, around the age of 20, seeing rates fall by as much as 32% over the past year.

Andrew Goulborn from Tiger Watch said: "It's good news for UK drivers that car insurance prices are continuing to fall.

"Our monthly price index shows that February 2014 premiums are at the same level as those recorded mid-2010. Competition between insurers and the anticipation of a positive impact from recent fraud prevention initiatives are all helping to drive rates down."

What next?

Compare car insurance quotes

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Black Friday sees increased motor incidents

Today can be a day of big savings, but it could also end in tears, as research has revealed that motor incidents were up by 8.5% on Black Friday last year. It’s therefore extra important to keep an eye on traffic today, not just on bargains.

Whiplash crackdown could cut car insurance costs

Whiplash claims have rocketed in recent years, and they’re driving up the cost of car insurance. So it’ll come as welcome news that the Ministry of Justice is stepping in, and will hopefully reverse the trend.

Be extra cautious on the roads today

Today may be Halloween, but it’s also the first Monday after the clocks go back. According to Admiral, this traditionally sees a higher number of incidents on the road, and the insurer is urging motorists to exercise extra caution as a result.
 
Close