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Insurance comparison site Tiger.co.uk published its May 2011 Tiger
Watch results today. Tiger Watch monitors the price increases in the car
insurance market by looking at hundreds of car insurance quotes each month.
The results show that car insurance prices continued their upward trend in
May, with costs in the month being 29.4% higher than those of May 2010 and
2.3% higher than those returned in April 2011.
A spokesperson for Tiger.co.uk commented: “Car insurance inflation shows no
sign of slowing down and these increases are adding hundreds of pounds to
annual motoring costs. Our Tiger Watch price monitor shows that costs have
increased over 10% in the last 3 months alone and drivers are routinely
receiving insurance renewals with premiums that are £200 to £300 higher than
those paid a year ago – much higher for some drivers. We think that this
trend is likely to continue across 2011, albeit with a slower rate of
inflationary growth from August onwards. The year could still finish with
costs around 25% higher than those seen in 2010.”
The Tiger.co.uk spokesperson went on to offer some advice to those motorists
who are trying to find cheaper car insurance: “Our advice is to always shop
around rather than just accepting a renewal price. Using an independent
comparison site like Tiger.co.uk only takes a few minutes and by giving you
access to a large number of UK insurers could result in significant savings
on car insurance. Other tips for keeping costs down include not adding
modifications to your car; considering (where legitimate) the addition of a
second, more experienced driver to your policy; and paying for your
insurance in one instalment rather than incurring the massive interest
charges that are usually incurred with monthly payments”.
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