19% Hike In Premium Makes The Car Insurance Costly

December 11th, 2019

Drivers across the UK need to know that on average they will be paying a 19 percent higher premium on their car insurance compared to last year. According to an independent survey, an average driver pays around £715 for comprehensive car insurance. This figure was around £600 last year making it a hike of £115. Although, this is not the highest jump as the year 2011 saw UK drivers paying £858 for a comprehensive car insurance cover, the increase is nonetheless much higher than inflation.

It is observed that since then the prices of motor insurance reduced considerably until 2014 which again witnessed a steady hike. This year it is the older drivers which are worst affected. Young drivers have to deal with an 8 percent hike while drivers above the age of 61 are paying around 24 percent higher premiums.

According to statistics, the car insurance premium hike was also observed locally and it is the London drivers which pay the highest of all premiums in the UK. They pay £1,149 as their motor insurance premium which is £449 more than the national average. Additionally, people in the Hebrides are paying 42 percent higher premiums than last year.

An increase in the cost of premiums as well as a burst in fuel price by 10 per cent makes it unmanageable to afford a car. Therefore the year 2016 is proving quite costly to the car drivers. Many suggest that this increase in premiums is due to the failure of insurance companies in making big cash.

Some of the biggest and popular insurance companies state and agree that it is the fraudulent claims of personal injury that compels them to increase the insurance premiums. Apart from this, overheads due to administration and marketing push the premiums to sky rocketing figures.

Whatever be the case, keep in mind that it’s you who is getting affected. So, it would be wise to compare car insurance companies in the UK and choose the one that offers cheap premiums. To compare car insurance companies in theUK, go through our website FreePriceCompare.com.

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