Cheaper car insurance reported

Fri, 05 Oct 2007

Car insurance, an insurance product that fluctuates in price, is 9.5% down on its cost three months ago, according to figures from Insurancewide.com.

The insurance company reveal that both comprehensive and third party cover has fallen to an average cost of £626, down from £693 in the last quarter.

James Harrison, the chief executive of the company, reportedly commented: "The continuing fall (since quarter two) in average premiums in quarter three reflects the rates of almost every insurer and broker in the UK, including direct insurers such as Swiftcover.com. We don't, however, expect the rates to fall much further."

Furthermore, he continued: "Once again, the falling premiums shown by our research reflect the competitive pressure insurers are under to retain and attract ever-savvier customers."

However, according to a Deloitte study, premiums are actually up this year, by as much as 10 per cent.
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