Motor insurance premiums remain low
Wed, 12 Apr 2006
The cost of UK motor insurance has remained relatively affordable over the past three months, according to new research.
The AA British Insurance Premium Index reveals that the majority of motor insurance premiums have stayed low even though the cost of home insurance has increased.
The data reveals that the average cost of comprehensive motor insurance decreased by 0.5 per cent to an average of £758.38 per year, whilst the average quote for third party and fire and theft insurance increased by 1.74 per cent to total £956.88 per annum.
"Competition for comprehensive car insurance remains strong," said Kevin Sinclair, managing director of AA Insurance.
"New channels and insurers are forcing existing providers to increase spending on advertising to maintain market share and this almost exclusively focuses on premiums," he added.
The index also revealed that the average home buildings insurance policy now equals £208.11, with home contents insurance totalling at £151.83 a year. 
© Adfero Ltd
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