Motorists are being urged to shop around for their insurance after research revealed that car insurance premiums have jumped by 7.9 per cent over the last year.
Car insurance research provider, Experian, says the average quote for comprehensive motor insurance in the direct market reached its highest point for almost two years in May 2007, rising from £519 in May 2006 to £560 now.
Chiltern’s Simon Duffy comments: “The increase in premiums is more than three times the current rate of inflation and could mean many motorists start to feel the pinch. But there are things people can do to reduce their costs.
“People shouldn’t accept a renewal quote without shopping around, the internet is a very good place to compare prices and in many cases people can save £100′s a year. I saved £150 a year by switching my insurance a few months ago.”
Simon also said there are practical things you can do to make sure your insurance premiums are not increased because your driving habits present a greater risk.
He said you should avoid speeding tickets and points on your licence, stick with the manufacturers’ specifications by not modifying a car and take additional driving tests like the Pass Plus or advanced driver’s test to reduce your premium.
“Consumers should compare the many options available to them before insuring or renewing their car policies. And always check the small print on the agreement that you are entering to avoid any hidden charges, like those some insurers charge if you pay monthly,” he adds.