Inflationary pressures of 2010 and the first part of 2011 have receded and relative sanity seems to be returning to the car insurance market.
(PRWEB UK) 23 February 2012
Tiger Watch analyses thousands of car insurance quotes in order to provide the UK’s most up to date overview of motor insurance price movements.
The February 2012 figures bring good news to Britain’s hard-pressed motorists, showing an overall decrease of 0.1% in premiums compared to last month’s pricing which, in turn recorded a 2.5% drop from the December 2011 figure.
On an annualised basis the monitor shows that premiums are some 2.7% higher than the prices returned a year ago – substantially below the current rate of inflation.
The Tiger Watch monitor shows that the car insurance market has been relatively stable since the middle of 2011, following an 18-month period during which premiums soared by some 45%. Competition amongst insurance providers, it appears, is returning to the market, providing better news to Britain’s motorists.
Tiger.co.uk’s Commercial Director, Andrew Goulborn, commented: “Our Tiger Watch data again shows that the massive inflationary pressures of 2010 and the first part of 2011 have receded and relative sanity seems to be returning to the car insurance market.
The averages we produce, however, do mask more substantial swings and roundabouts when it comes to different gender and age profiles. Male drivers, for example, have seen premiums rise more in the past year than females, whose prices have remained almost unchanged. Although in the last month we’ve seen that trend tip the other way. Equally, the data shows significant variances in pricing by age bands.
Our recommendation to all drivers of all ages is that whilst it’s getting harder and harder to find cheap car insurance, it usually pays to shop around at renewal time – almost two-thirds of Tiger.co.uk shoppers claimed to have saved over £100 by doing so.”
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