Motorists face huge car insurance hikes, new research reveals
Motorists face huge car insurance hikes, reveals new research from price comparison website Compare the Market.
The average annual premium has soared to £743 — a rise of £208 or 39 per cent year on year.
The research also shows drivers under 24 face the steepest increases. Their average premium is now £1,640 — up £510 or 45 per cent in the past 12 months.
Increase: The average annual premium has soared to £743 – a rise of £208 or 39 per cent year on year
Insurance is typically the lowest for drivers aged 65 to 79 at £343. However, this still constitutes a rise of up to £89 year on year for this age group.
A rising number of claims (up 14 per cent) and ‘repair cost inflation’ is blamed for some of the increase.
Compare the Market director Anna McEntee said: ‘It’s now more important than ever to shop around and compare prices to check you’re getting a great deal.’
Last chance to visit British Motor Show
Last chance for car fans and families to visit this summer’s British Motor Show today and tomorrow.
The four-day event, which began on Thursday at Farnborough, Surrey, will treat tens of thousands of visitors to stunt shows and live arena displays, test drives, supercar experiences and rides for children and adults, as well as hundreds of new, classic, modified, motorsport and supercars on display.
Grand day out: The four-day event is being held at Farnborough, Surrey
‘Car S.O.S’ hosts Tim Shaw and Fuzz Townshend on the Live Stage host guests from television and motorsport including ‘Wheeler Dealer’ Mike Brewer.
The IMI Tech Hub (from the Institute of the Motor Industry) features a replica garage service bay with petrol and electric cars and workshops on the latest automotive technology.
For prices and more details, go to the site: thebritishmotorshow.live
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.