Tag Archives: Comprehensive Car Insurance

Car Insurance Premiums Reduce In Q2 2018

Fiesta Motorists will be pleased to read that premiums for fully comprehensive car insurance have, on average, fallen in the second quarter of 2018 when compared to the same period last year.

According to the Confused.com Car Insurance Price Index that is produced on a quarterly basis the average amount paid for the above level of cover in Q2 of 2018 was £752 per annum. Twelve months ago, the premium was £847 per annum so there has been a drop of £95 with this equating to a fall of 11.2%. That is a significant reduction.

It is interesting to read in the above report that those motorists who merely renewed their car insurance with the same insurance company ended up paying, on average, an extra £49 per annum for their cover when looking at data covering the second quarter of this year. This just goes to show how important it is that motorists should shop around when he or she receives their renewal quotation from their existing insurer to try to get a better price elsewhere for the same level of cover.

As you are probably aware, it tends to be the young, inexperienced driver who pays more for their car insurance than others and that is not surprising. However, it is interesting that the above report reveals 17 year olds have, on average benefitted from quite a drop in the cost of insuring their cars when comparing Q2 of 2018 with Q2 of 2017. They have seen premiums fall by an average of £403 per annum to an average of £1,889 per annum. This is even lower than that being paid by 18 and 19 year olds with the former paying an average of £2,052 per annum and the later an average of £1,893 per annum. A reason for the drop could be due to an increase seen in the number of insurance companies offering telematics (black box) car insurance.

Those premiums are significantly higher than the average paid by older motorists for comprehensive cover: –

34 year old – £664 per annum

51 year old – £647 per annum

68 year old – £496 per annum

On a regional basis, Northern Ireland has seen the biggest fall in premiums with premiums dropping on average from £1,059 per annum to £894 per annum between both quarters. That is a fall of £165 per annum equating to 16%.

On a more local basis, motorists living in Inner London saw their premiums reduce by an average of £179 per annum. That may be good news for many but they are still paying more than an average of £1,000 per annum for their cover with this being the only place in the UK that this is happening.

We are sure motorists would agree that it would be lovely to see the cost of insuring their cars continue to fall.

If your cover is coming up for renewal then why not contact us here at AIB Insurance on 02380 268 351 and we will be pleased to discuss your requirements and obtain a free, competitive quotation from our extensive panel of insurers without any obligation.

Vehicle Break-Ins Increase

Car Break InRAC Insurance has seen some interesting statistics relating to the number of vehicles broken into here in the UK by car thieves that are, to say the least, somewhat concerning. Below we highlight some of this data but more information can be found on the above company’s website.

Based upon data from 42 police forces in England, Scotland and Wales there were almost 240,000 vehicles broken into in 2016 – that is not far off a quarter of a million that we are sure you will agree is a very large number. Rather concerning, that is an increase of more than 8,000 in comparison to the previous year.

Of the above 42 police forces, 26 saw an increase in vehicle break-ins with the remaining 15 seeing a drop when comparing 2016 with 2015.

So, which forces saw the biggest increase in break-ins in percentage terms when comparing 2016 with 2015. Well, the City of London police force was at the top of the table with a 76% rise albeit it should be borne in mind that, in numbers there was a rise from 46 to 81. In second place was Northamptonshire with a rise of 41% from 2,864 to 4,043. Here in Hampshire there was an 8% rise.

The police force that saw the biggest fall in reported vehicle break-ins was Cheshire with a drop of 19% from 2.827 in 2015 to 2,284 in 2016.

Of course, if your car is broken into then it causes huge disruption in so many ways but could also lead to your motor insurance premiums increasing which is something we could all do without. So, what can you do to reduce the possibility of your vehicle being broken into?Smashed Window

• Fit a car alarm
• Put your car in the garage overnight
• When stationery, whilst driving, lock the doors and keep windows closed
• Use a steering wheel lock when leaving the vehicle unattended
• Park your car in a well lit street in the dark
• Put personal belongings in the boot out of sight

Obviously this list is not exhaustive but we hope that it is of benefit.

For comprehensive car insurance why not give us a call here at AIB Insurance on 02380 268 351 and speak with a knowledgeable member of our staff who will do all that he or she can to obtain a competitive quotation from the extensive panel of reputable insurers we have at our disposal.

Car Insurance Premiums Continue To Increase

Confused.ComAccording to the Confused.com Car Insurance Price Index that is produced in association with Willis Towers Watson, motorists will be disappointed to read that, in the first quarter of 2017, fully comprehensive car insurance premiums rose. This has been a trend for quite some time and it remains to be seen when it will end.

Such premiums have increased by an average of 16% in the 12 months to 31st March 2017. In monetary terms, this equates to an average rise of £110 per annum that is no small sum. In fact, there has been an average increase of 2% per annum in the first quarter of this year with this equating to an extra £14 per annum. The cost of providing such cover at the end of the first quarter of 2017 had reached an average of £781 per annum.

Regrettably, every UK region saw an increase in premiums over a period of 12 months with the biggest percentage rise being in the Scottish Islands and Highlands that saw a rise of 21%. The Scottish Borders saw an increase of 19% but, interestingly, premiums in that region are still the lowest in the UK averaging £547 per annum.

Those motorists living in Inner London have seen their fully comprehensive car insurance premiums increase by an average of £174 per annum to £1,260 per annum in the 12 months to 31st March of this year. That equates to a rise of 16%. The South West saw an annual rise of 15% Traffic Jamalthough in the first quarter of 2017 the average premium in that region actually dropped by £1 per annum.

It is 66 year olds who have been subjected to the largest percentage increase with car insurance premiums going up by 23% in the last 12 months. The lowest increase in percentage terms was for 18 year olds who saw their premiums rise by an average of 9% although it is that age group who pay more for their motor insurance than anyone else with premiums being an average of £2,164 per annum.

With the cost of covering your car going up it is important that you shop around for a competitive deal. In that respect, why not speak to one of our experienced members of staff on 02380 268 351. AIB Insurance has access to an extensive panel of insurers and can help arrange cover on various makes and models of vehicle.