Motor insurance premiums price rises slowing

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Motor insurance premiums continue to rise for UK drivers, reports, however, conclude that the rises are showing indications of beginning to slow.  This is somewhat small consolation to drivers who saw increases by well over a third for comprehensive cover during the last year.

Drivers with third-party theft and fire have seen their rates rise by more than 50 per cent since October 2009.  The price of comprehensive rose by almost 9 per cent in this quarter compared to over 14 per cent during last quarter. Still, a rise is a rise and such increases are leaving some motorists to worry how much longer they will be able to afford their insurance.

Some young male drivers, who are really bearing the brunt of increases in coverage, have complained that it is discriminatory for young females to pay much less.  Insurance executives and experts counter that the lower female rates are not gender based, but statistically derived.  Young females, apparently, have less frequent, smaller, and less expensive accidents than their male counterparts.

While insurance experts are willing to see the recent reduction of increases from July to September as a positive indicator, you cannot help but side with motorists who see any increases during such difficult financial times as additional hardship.

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