According to Confused.com’s 2010 Confused/EMB Car Insurance Price Index, premiums for UK car insurance have risen 14.3 per cent since April 2009.
The average price of car insurance is now said to be £524 compared to £458 just twelve months ago. In the first quarter of 2010 alone, insurance premiums have risen 4.3 per cent totalling £21 in the last three months.
The increase in premiums for females aged 21-35 has been found to be greater than the market average. Young women are being affected the most and are no longer enjoying cheaper car insurance as they once did.
Peter Lee from EMB said: "In monetary terms, younger females still pay less and younger females cost insures less overall in claims than younger men."
However insurers appear to be closing the gap on the price differences between young men and women.
Simon Lamble, product director at Confused.com expects the price rises across all age groups "will cause even more consumers to seek good value alternatives when their polices come up for renewal."
Shopping around and using comparison sites to find the best premiums for UK car insurance, will be on the increase, especially for those most affected by the recent rise in prices.
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20/04/2010 15:29:56 by
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