There is no doubt that insurance providers will have to re-evaluate their pricing as a result of the ECJ ruling.
Ipswich, Suffolk (PRWEB UK) 16 October 2012
It seems that women could be benefitting from dropping car insurance prices more than their male counterparts. According to the figures published by Tiger.co.uk in the Tiger Watch price monitor for September, women drivers saw a sharper drop in policy pricing than men, with a month-on-month decrease of 4.7% compared to 1.1% for males. This is despite concern that premiums for women could rise significantly when the European Court of Justice’s (ECJ) Gender Directive is implemented on the 21st of December this year.
The predicted hike in prices as a result of the approaching ECJ directive has been referred to as ”Carmageddon”, but the impending doom inferred by this is largely yet to emerge. Car insurance premiums have been in decline overall in the last 12 months and insurers are giving very little away in terms of future pricing strategies. With the exception of the recent announcement by car insurance brand Sheilas’ Wheels that it intends to keep price disruption to a minimum, there has been little indication of what action other insurance companies are going to take.
Andrew Goulborn, Tiger.co.uk’s Commercial Director commented: “According to our monthly car insurance price monitor the recent trend towards increased prices for women drivers reversed in September. There is no doubt that insurance providers will have to re-evaluate their pricing as a result of the ECJ ruling, but it is still not yet evident exactly what the impact will be. As always, we would recommend that all drivers compare car insurance prices at renewal using an independent site like Tiger.co.uk to access quotes from over 90 car insurance brands including 6 of the increasingly popular telematics or black box insurance brands.”
Tiger.co.uk is a trading name of Call Connection Ltd. Tiger.co.uk is a UK based, independent motor insurance comparison site, offering insurance quotes from over 150 motor insurance brands. Call Connection Ltd is authorised and regulated by the Financial Conduct Authority (FCA number 308374).