A study has shown that on average, car insurance premiums rose by nearly 6% in 2007.
The study indicated that the biggest rises (approximately 10%) were passed on to those drivers over the age of 65 years of age.
The younger drivers age under 25 years of age saw increases of between 2 – 3 %, which was a little unexpected considering the younger age groups still cost the insurance industry the most money when it comes to claims etc.
This isn’t to say that policyholders are not going to be able to realise savings – The AA report that a 65 year old living in the South West may still be able to make a reasonable saving on their renewal premium with process varying across insurers by up to 35%.
Car insurance premiums continue to rise and are now at their highest for several years making it more important than ever to put yourself out and take the time to make sure your insurer is rewarding your loyalty by offering you competitive, affordable and above all, a quality product.
On the plus side, the lady drivers out there can take comfort in that insurance companies still consider you a better risk – your average premiums are around £70 less than the men’s.
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