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Car Insurance -
Car insurance premiums are on the increase - 30/04/2008 |
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Drivers have seen the rate of car insurance premiums increase by six per cent, in the past year, however many are not taking the opportunity to find cheaper insurance cover for their vehicles.
According to MoneyExpert.com, 25 per cent of car drivers have seen their insurance premiums increase to an average price of £682 and the prices are also set to increase this year by around 10 per cent.
However it was also found that 28 per cent of drivers take up renewal quotes, from their present insurance provider without searching for cheaper policies from other providers.
Sean Gardner, of MoneyExpert.com said: “It is worrying that when faced with an increase in car insurance premiums of more than double the rate of inflation so many drivers just shrug their shoulders and accept it. Motorists are already having to cope with soaring petrol prices – assuming they can actually get petrol. Insurance costs simply add to the burden."
He also added: "Drivers can shop around easily by comparing insurance quotes from different companies. Rising insurance costs are one problem you can at least try to steer clear off.”
Contrastingly, 14 per cent of car drivers have said their insurance premiums have remained at the same rate, while 17 per cent stated that they had experienced a cut in their car insurance.
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