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Car Insurance -
New AA car insurance index released - 09/10/2007
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Car insurance premiums are still going up, new figures from the AA show.
The average car insurance policy was found to have risen by around one per cent between March and June, according to the quarterly index.
There was good news, however, for consumers willing to shop around for the best deal - a special index comparing the three lowest premiums on each risk covered shows that the very cheapest policies have actually fallen by half a percentage point for the quarter - reflecting the increasingly competitive nature of the industry.
Insurer relations director at AA Insurance John Close said: "The latest rises are in line with expectations - car insurance premiums have followed an upward trend since the second quarter of 2006.
"The cost to the industry of personal injury claims and legal costs has been escalating rapidly, while accident damage costs have also risen faster than premiums - in addition, recent flood claims have cost insurers an estimated £100m."
The AA index has registered rises in car insurance premiums in every one of the last five quarters measured.
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