Cost of Car Insurance Falls For Many
Posted on 18 Oct 2013
Reduction in annual car insurance cost
It is the annual event that we all dread – seeing how much the renewal premium has increased from last year and start the process of trawling through the various comparison sites looking to save money.
A recent survey by comparison site comfused.com has shown that for the majority of driver’s annual policies has reduced in price, with the average policy down at £105 to £652. This reduction has been linked to the increase in black box technology and increased market competition. At the same time, insurers are now banned from accepting referral fees in exchange for crash details from personal injury lawyers, reducing insurer’s legal costs.
Not all good news
The reduction in cost is not good news however for all drivers – 17 to 20 year old female drivers have seen an average increase of £155 on their premiums raising them to £1,862 as a result of the 2012 EU Gender Directive. Insurers are now banned from using gender as a key factor when producing insurance quotations. Twelve months ago the difference between young male and female drivers was an average of £1,607, but has fallen by over £1,000 to £483.
The fall of premiums for young male drivers is replicated across males of all ages, with premiums down an average of 17.5% to £665, whilst the female average has to fallen to £635 saving 8.6%.
Free Insurance at Jennings Motor Group
Jennings Motor Group is helping to reduce the hassle of renewing car insurance by offering a year’s free insurance with new KA Studio Connect cars.* Featuring Bluetooth, steering wheel audio control, USB and AUX connection, the KA Studio Connect allows you to stay in contact with the outside world whilst on the move. Free comprehensive insurance includes a range of benefits:
- Up to £200 for personal belongings in the car
- 24 hour accident recovery
- Emergency Accommodation – Up to £50 per person
- Up to £5,000 per person accident cover
- Access to a replacement car whilst yours is repaired
- Repaired in Ford Accident Centre using Genuine Ford Parts
- All repairs are guaranteed for three years
*terms and conditions apply. Offer until 31 December 2013.
comments powered by