Can You Escape High Car Insurance In 2015
It comes as no surprise that car insurance premiums are expected to rise again in 2015, even more so for the younger drivers amongst us. On average, drivers have to fork out an extra £35 in order to insure their car when compared to January 2014. This trend is expected to continue into the foreseeable future.
Drivers with a bit more experience under their belt have also been hit by the price hikes. For example, a 30-year-old driver is now paying £38 more than he did in 2014 (at an average cost of £460) and a 40-year-old driver is now paying an extra £36 for their insurance (averaging £224 in total).
On a positive note, insurance for a teenager is now costing £133 less than it did in 2014 but they’re still paying more overall. Teenagers were paying, on average, £1248 in January last year compared to the £1,115 that they’re paying right now. Customers aged 60 and above remained the cheapest group to insure, averaging out at £224 per year.
Industry experts have predicted that insurance premiums are going to keep rising during 2015. However, you can cut your costs by remembering to shop around once your policy has ended. Insurance actuary Grant Mitchell has commented on the situation, saying: “Market expectations are that premiums will begin to rise again in 2015. Unfortunately, as the drivers who are statistically involved in the most road accidents, less experienced motorists are likely to feel any premium increases more.”
James Daley, consumer champion from Fairer Finance said: “Recent price rises have reinforced the importance of shopping around. If you stay loyal to your existing car insurance provider, you’re more likely to be paying far more than you need to.” The same goes for business insurance. Insurance Price can help you if you’re getting close to your renewal date. We offer some of the most competitive quotes on the market and we won’t punish your loyalty by hiking your premiums up when your year has ended.
James Savery, 08 January 2015