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Car Insurance up over 15 per cent
19/01/2012
Car Insurance has increased by 15.3 per cent in just a year, reported by the British Insurance Premium Index. These sky-high prices are now costing motorists on average around £971.40 a year. These prices increased in the last three months of 2011 by 5.4 per cent alone. Prices are continually on the up, if you are over 55 why not see if you could release some equity in your property with The Right Equity Release scheme and use our right equity release calculator and see how much you can qualify for.
Young drivers are the ones to be hit the most, seeing massive annual premiums rise by 10.91 per cent. Young male drivers do however seem to be the ones to fork out the most for their car insurance premiums on average £3,163 compared to £1,799 for female drivers of the same age.
These big increases were not expected and the cheaper deals seem to be disappearing fast. It’s clear the young drivers are hit the most and some insurance companies won’t even offer cover to those under 21.
Those who are paying the least for their car insurance premiums are female drivers between the ages of 60–69 for cover only paying on average £424.
The Right Equity Release scheme could release some tax-free money for you or even your family, why not see if you qualify by using our Right Equity Release Calculator or arrange for a free no obligation meeting, this is an easy and pain free way to top up your retirement pension or to release you a lump sum or whatever you wish to spend it on.
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