Money News
The Sainsbury's Car Insurance Index, which tracks online premiums over a six month period, reveals that during 2006 there was a steady trend of rising car insurance premiums.
In January 2006 the average premium was £462.72. By July this had risen to £466.63 and by the end of the year it had reached £472.52. Over the 12 month period the average car insurance premium increased by £9.80, or 2.1%.
Gender continues to have an impact on how much you pay for your car insurance - the average premium for men being £499.06 as opposed to £434.46 for women.
On an age basis, motorists under 25 saw the biggest increase in their premiums, rising by 5.8%. But motorists aged over 65 saw the cost of their car insurance fall by 0.5%.
The differences in age may be because younger drivers are responsible for the highest frequency of car insurance claims.
20 February 2007 © Moneyextra.com
Moneyextra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.