Welcome!

Symbian Authors: Jack Newton, Kevin Benedict, Matthew Lobas, Shelly Palmer, RealWire News Distribution

News Feed Item

Car Insurance Premiums Fell Spring - Summer 2012, But Will This Decrease Continue?

CHESTER, England, November 13, 2012 /PRNewswire/ --

  • Average car insurance premiums have decreased by 6.4 per cent over the summer to £456 according to The MoneySupermarket Monitor*
  • Scots benefit from the average cheapest premiums
  • New gender rules could reverse the downward trend, warns MoneySupermarket

The latest MoneySupermarket Monitor on Car Insurance shows the downward trend in car insurance pricing continued over the summer of 2012, with average annual premiums now standing at £456, a fall of 6.4 per cent.

The full analysis of more than 18 million quotes* tracks the average car insurance prices of customers using the UK's number one comparison site. The Monitor found car insurance prices have fallen 10.9 per cent since September last year, saving the average motorist £56 on their annual premium. 

However, despite the overall fall in car insurance premiums year on year and Quarters 2 to 3, a more detailed breakdown of the data month by month indicates a slight increase in the average cost of car insurance premiums between August and September of 1.6 per cent - an extra £7 to the cost of an average policy.

Our historical data shows a similar 'bump' in the late summer of 2011. There was also an increase in Quarter 4 2011, which could indicate that increases are in the pipeline for Quarter 4 2012.

Female motorists continued to benefit most from the overall fall in the cost of cover in recent months, as the average price for women drivers decreased by 7.5 per cent compared to a 5.4 per cent drop for male motorists.

Over the summer months, the price gap between the average cost of cover for male and female motorists stood at £115, meaning men are paying 29.1 per cent more. This is 2.8 percentage points higher than the gap recorded between the genders in the spring 2012 data, showing that, despite the imminent implementation of the ECJ ruling outlawing gender discrimination in insurance pricing, the gap between male and female car insurance premiums has actually increased in the three months to the end of September.

Kevin Pratt, insurance spokesperson at MoneySupermarket.com, said: "Overall things still look good for motorists who long for cheaper car insurance premiums as the cost of cover was lower in the summer than it was in spring, and significantly lower than the same time last year. However, we have seen a slight increase between August and September which may indicate the trend is not set to last.

"Insurers are slowly releasing information on their plans for the implementation of the ECJ ruling, so we continue to expect uncertainty over the cost of car cover for the final quarter of this year."

The Monitor found all regions in the UK continued to benefit from a reduction in the cost of premiums over the last quarter. The average cost of cover continues to vary considerably across the country with London topping the chart for the most expensive car insurance premiums, averaging £704 per year. Overall, motorists in Scotland have the cheapest annual car insurance, averaging £303 in North Scotland and £291 in South Scotland.

Kevin Pratt continued: "As we saw in the last MoneySupermarket Monitor on Car Insurance the cost of annual cover varies considerably across the country. Londoners continue to suffer from the highest premiums while those in Scotland are benefitting from average premiums around £400 lower. Despite the title of the UK's cheapest car insurance going to those drivers in Scotland, when looking at who has had the lowest levels of deflation year on year, Scottish postcodes fill the table. This may mean  premiums might not continue to fall in those areas as the rate of reduction slows compared to other areas of the country.

"The fall in the cost of cover across the UK is partly due to intense price competition in the market. This is excellent news for motorists who are prepared to shop around to ensure they get the best deal. The typical saving made by those using MoneySupermarket to take out their car insurance is £409**. Other factors that account for deflation include insurers making improvements to fraud detection, cutting the amounts paid out on false claims dramatically, and, new cars are more secure than they have ever been, with alarms and immobilisers fitted as standard. It is also easier to track stolen cars via satellite, therefore improving the likelihood of recovery."

Notes to editors:

* MoneySupermarket Monitor on car insurance:

http://www.moneysupermarket.com/car-insurance/monitor/

18,378,495 quotes run on the MoneySupermarket website between July 2011 and September 2012.

   
                       Average    Movement Last   Movement
    Area              Price GBP    Quarter %     Last Year %
    GREATER LONDON     GBP 704     -5.9%           -7.8%
    NORTH WEST ENGLAND GBP 547     -7.7%          -13.6%
    WEST MIDLANDS      GBP 487     -5.7%          -10.2%
    YORKSHIRE          GBP 475     -6.5%          -14.3%
    NORTH EAST ENGLAND GBP 436     -6.8%          -12.4%
    EAST ANGLIA        GBP 435     -5.9%           -9.1%
    NORTHERN IRELAND   GBP 433     -5.5%          -10.7%
    SOUTH WALES        GBP 425     -6.9%          -11.5%
    EAST MIDLANDS      GBP 418     -6.1%          -10.1%
    SOUTH EAST         GBP 401     -6.8%           -9.0%
    NORTH WALES        GBP 343     -6.7%           -9.9%
    MID SCOTLAND       GBP 341     -6.2%          -10.4%
    MID WALES          GBP 339     -7.8%           -7.9%
    SOUTH WEST         GBP 320     -7.4%           -9.2%
    NORTH SCOTLAND     GBP 303     -4.1%           -5.0%
    SOUTH SCOTLAND     GBP 291     -5.7%           -9.2%


** Based on online independent research by Consumer Intelligence during 01 September 2012 to 30 September 2012

MoneySupermarket.com compares (at 30th Oct 2012)

  • 129 car insurance brands and 100 home insurance brands
  • 10 broadband providers and 18 energy providers   
  • 30 unsecured loan and 5 secured loan providers
  • 62 mortgage lenders and 29 credit card providers
  • 66 savings providers and 37 current account providers.
  • Over 950,000 mobile phone deals

Our customers

We help our customers to save money on all of their household bills by providing a free, easy to use online service so they can compare a wide range of products in one place and find the product most suited to their needs. Our size means we are able to offer our customers exclusive, market-leading deals, including some they can't even get direct from providers.

Our providers

By having considerable volumes of informed customers actively looking for products and ready to purchase, we offer our providers an efficient and cost effective customer acquisition solution across all of our channels. This enables our providers to target their marketing spend in an effective and completely measurable way.

Our revenue comes predominantly from fees paid to us by product providers when a customer clicks through to their website and actually applies for or purchases a product. It is a success based marketing fee.

Our customer commitment

  • We make it easy to find the brands you expect to see
  • We strive to ensure a product cannot be found cheaper by going direct
  • We let you remain in control of your personal data
  • We are independent and impartial
  • We make it easy to switch and save
  • We strive to always show the most competitive product available

For further information, please contact: 
Nicki Parry
PR Officer
+44(0)1244-370318
[email protected]

SOURCE MoneySupermarket.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...