Car insurance comparison website Tiger.co.uk recently revealed the results of its Tiger Watch report for May 2011, indicating that car insurance rates for last month were 2.3 per cent higher than the month previous and 29.4 per cent higher than the same period of time one year prior. One Tiger.co.uk spokesperson remarked that inflation in insurance prices have shown no signs of slackening off, which has led to the addition of hundreds of pounds to the cost of motoring annually.
The spokesperson added that the comparison site’s price monitor found that costs have gone up by more than 10 per cent over the past three months. It was also discovered that motorists will now routinely receive policy renewals that have premiums anywhere between £200 to £300 more than they were paying just twelve months previous.
Tiger.co.uk indicated that this trend will likely continue throughout the remainder of 2011, though inflation is expected to drop off in the months following August. The comparison site predicted 2011 ending with around 25 per cent higher costs than those seen at the end of the previous year.
Tiger.co.uk offered advice to those drivers who are in search of affordable car insurance, commenting that motorists should shop around instead of just blindly accepting their newest renewal price. Use an independent comparison site, said the insurance providers, as doing so takes but a few minutes of your time and can provide you with access to a large number of insurers in the UK.