Car Insurance Prices Continue to Rise
The Sainsbury's Car Insurance Index shows premium prices continuing to rise
4th October 2005
Sainsbury's Bank have released the latest data from their Car Insurance Index, which tracks the market prices of UK motor insurance premiums.
The index shows that the average premium price rose by just over 5% in the 4 months to July 2005, to reach £490.13 compared with £465.18 in April.
Drivers under the age of 25 were hardest hit, with average premiums rising 26.7% to £1,078.77 during the same period.
Older drivers fared rather better, with prices decreasing 11.1% and 4.1% for the over 50s and over 65s respectively.
Joanne Mallon of Sainsbur's Bank, commenting on the findings, said:
"Insuring your car equates to around 22% of the total annual cost of driving but by shopping around, it is one of the easiest expenses to cut so it is certainly worthwhile spending a little more time on the phone or online."
Read More: Sainsbury's Press Release
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