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Are car insurance premiums set to fall

April 28, 2012

Are car insurance premiums set to fall

Car insurance premiums fell by 1.1 per cent, indicating that the soaring car insurance premiums could have come to an end, according to data from motoring firm AA.

The firm's AA British Insurance Premium Index found that car insurance fell to £1,132 in the Shoparound index during the first quarter.

Shoparound looks at the five lowest premium quotes from approximately 50 providers.

Year-on-year, the figure is 7.7 per cent high, which is the lowest increase in the last four years. The year before the number increased a staggering 40.1 per cent.

AA remains unconvinced that the insurance price fall will continue. There is a possibility that insurers are gearing themselves up for the change in law that prevents premiums being different based on gender.

Despite the overall fall, the policies for young women drivers increased by 4.8 per cent while the equivalent for men went down by one per cent.

The European-wide ruling comes into effect this December.

This article is intended as generic information only and is not intended to apply to anybody’s specific circumstances, demands or needs. The views expressed are not intended to provide any financial service or to give any recommendation or advice. Products and services are only mentioned for illustrative rather than promotional purposes.

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