Car insurance premiums witnessed a sharp rise of 4.3 % in the first three months of 2010. This sudden escalation has come as a great setback to many female drivers, who can no more avail the same discounts as they once did.
Confused.com conducted a comparative analysis of car insurance price index of 2010, and recorded an annual increase of 14.3%. This increase has further led to a rise in the average car insurance prices of about £524 – £66 than last year. Also, there was an increase of £21 per cent for the first quarter of the year.
Generally, female drivers enjoy the cheaper side of car insurance market. Moreover, on average, they have been paying less for women’s car insurance premiums even till date. However, they are now facing big trouble due to this unexpected rise in insurance rates. Undoubtedly, this has been the fiercest hit, where the net increase in premiums for 21-35 year old female drivers far exceeds the market average.
Analyzing this sudden crisis, Product director of Confused.com suggests car insurance comparison as an effective and practical combating tool. He expects more customers to shop around and compare car insurance quotes to overcome this situation. He also assures that as this price rise is common to all age groups, more customers are likely to seek productive alternatives at the time of renewal of their policies.
EMB partner of Confused.com adds a new dimension to this unexpected rise. According to him, younger females pay considerably less in comparison to younger men. And therefore, this escalation in the premiums seems as a possible way employed by the insurers to balance the price differential between the sexes at younger ages.
At present, the only possible solution to counteract this problem is car insurance comparison. Various car insurance comparison sites display relatively cheap insurance quotes apart from offering substantial discounts. You can easily compare car insurance to select the most suitable and affordable insurance policy to ensure long-term security.
Compare car insurance with compare.com – the fastest growing comparison website.
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