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Car insurance premiums fall in 2013

Car insurance premiums fall in 2013

Category: Car insurance

Updated: 09/01/2014
First Published: 09/01/2014

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 It is now over 6 months old so the content may be out of date.

The latest car insurance pricing index has revealed that annual premiums fell over the course of 2013, with a 6.5% drop in December alone meaning motorists were able to have a very merry Christmas.

Tiger Watch, the monthly car insurance price monitor, recorded a 2.5% drop in car insurance premiums last year. This follows on from a 3.25% decline in 2012, helping to counter the massive price inflation seen in 2010/11 and starting to bring premiums back in the realm of normality.

The drop in rates has been primarily driven by the significant fall in premiums for younger male motorists, with a double-digit decline being seen during the previous 12 months.

This is arguably down to the implementation of the EU Gender Directive in 2012 which banned gender from being used as a pricing factor, and although this has meant the premiums for younger female drivers have increased the overall fall can still be measured.

It's good news for UK motorists who could well have been feeling the pinch of ever-rising insurance premiums, but the advice is still to compare the options. Taking a close look at what each policy can offer can ensure you're getting the cover you want at a price to suit, and could mean you save even more than 2.5%...

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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 Any products featured may be withdrawn by their provider or changed at any time.