'No time' for car insurance complacency

Britons should not become complacent with their car insurance policy despite a slowdown in the cost of premiums, it has been claimed.

The latest AA Insurance Premium Index has revealed that the average cost of a comprehensive annual car insurance premium rose by just 3.6 per cent over the second quarter to £923.90, the lowest rise for 18 months.

Lee Griffin, chief operating officer of comparison website gocompare.com, claimed that, although the steepest car insurance increases may have already occurred, Brits should ensure they have a good value policy.

He said: "Although price rises may have slowed in the last quarter, millions of motorists who will receive their car insurance renewal notices over the next month could be faced with renewal premiums 30 per cent higher than when they bought their policy a year ago."

The report also revealed that home insurance premiums fell 0.6 per cent for buildings cover to £146.35 and contents cover dropped 1.1 per cent to £75.53.

Posted by Liam Tomlinson