Transport & Car Blog

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Comprehensive car insurance soars by 12.3%

  Friday, 23 December 2011

UK comprehensive car insurance premiums have increased by as much as 12.3 per cent in the space of 12 months, according to new research.

Average comprehensive premiums are now £92 more expensive, taking the typical premium up to £843 per person.

It wasn’t just comprehensive insurance that fared badly in the car insurance marketplace. Third party, fire and theft premiums have escalated even worse, suffering an annual 19.9 per cent increase, equating to an increase of £192 per person over 12 months.

Data from the Confused.com/Towers Watson Car Insurance Price Index data, which uses more than four million quotes, found the biggest annual price hikes in the North of England, with the areas of Bradford and Oldham experiencing year-on-year increases of 27.5 and 27.9 per cent respectively on their comprehensive car insurance premiums.

Scotland saw the lowest annual premium increases in the UK for comprehensive cover. The towns of Perth and Kirkwall experienced price hikes of just 0.3 per cent and 0.8 per cent respectively.

Comprehensive insurance is largely used to protect brand new or high-value vehicles. As a result, increasing numbers of motorists are choosing to purchase cheaper, second-hand cars to reduce their overall motoring costs – inclusive of fuel, insurance and tax.

Consequently, there is growing demand for used car parts for almost any line of vehicle in the country. ASM Auto Recycling currently stocks over 250,000 recycled car parts for second-hand vehicles that are guaranteed for up to 90 days.

This is ideal for second-hand car owners who simply require peace of mind when fitting used engines or any other car parts to breathe new life into their car. The continued war on motorists looks set to increase, with a deferred annual increase of 3p a litre mooted by the Government for the New Year.

A reliable second-hand car makes economic sense with the ability to repair used cars  with recycled car parts from dismantled vehicles as opposed to those who decide they wish to ‘scrap my car for cash’ and be done with it.

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