Average cost of comprehensive premium increase to £629.04
Filed under: Auto Insurance
20 May 2010
This year the cost of comprehensive car insurance cost a average of £629.04 whilst the average in 1994 was a mere £367 according to the AA insurance index. The insurers suggest that this is due to the amount of people claiming compensations which is the main cause of rising premiums. On the other hand thou – with the competition from telephone and online companies who can also offer insurance some insurers have had to drive down their premiums. The cost of claims between 1994 and 1997 rose by 20% and the Association of British Insurers estimates that for every £1 that they collect they will end up paying £1.15 out.