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(Medical-NewsWire.com, April 28, 2013 ) Dublin, Ireland -- According to new reports from the AA British Insurance premium index, car insurance premiums stopped rising for the first time in 2013.
The report highlighted the average quoted premium for an annual comprehensive car insurance policy, as tracked by the AA Shoparound summary stood at £ 746.75.
This is a drop of 1.4% over the first three months of the year, and premiums have fallen by 4.1% over the past 12 months.
Director of AA Insurance, Simon Douglas, stated that the falling trend will be welcomed in by consumers who, over the past three years, have focused on some of the largest premium increases recorded by the index.
"Car insurance has not been far from the headlines for all the wrong reasons as insurers struggled to balance premiums against claims costs," he says. "Sharp hikes in personal injury claims, fraud and uninsured drivers, to say nothing of last year's gender directive and changing regulations, have all helped to pile on the pounds.
Scott Kelly, head of motor at Gocompare.com, stated: "There is a lot going on in the car insurance market at the moment with the after effects of the EU Gender ruling still working through renewal quotes and moves to curb the cost of personal injury claims. As a result, individual insurers will vary a good deal in the way they assess different risks.”
He continued by noting, "It is important therefore that drivers step back and take the time to compare prices. Premiums have topped rising but that doesn't guarantee that everyone is suddenly getting a good deal. You don't want to be signing up for another year with your existing insurer if they are increasing your premium when another company might have a totally different view."
The government is now looking at what the AA calls 'the very British phenomenon of soaring whiplash injury claims'. The Ministry of Justice is finishing off a consultation regarding whiplash injury.
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Source: EmailWire.Com 
Source: EmailWire.com
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