Car insurance premiums are continuing to rise. The third quarter of 2015 has seen an increase of nearly 5% which represents an average £26. The market expects the cost of motor insurance to steadily escalate for at least the foreseeable future.
The average cost of car insurance is now £570. With the governments decision to increase insurance premium tax (ipt) from 6% to 9.5% from the 1st November 2015, rates could be £100 more than the same period, a year ago.
The cost of personal injury claims have increased and this is believed to be the reason for the rate changes.
The last two years have seen a dramatic reductions in the cost of Motor Insurance. Experts feel the average premiums will be lower than 2 years ago, even with the expected