Insurancewide.com results show drop in premiums, while the AA index shows a rise
Insurancewide.com has released figures from its recently expanded car insurance comparison tool, which show a 4.6% drop in average car insurance premiums in the second quarter.
These figures contradict figures released by the AA, one of the many brokers that appears in Insurancewide.com’s extensive panel of direct insurers and brokers. The AA panel does not include direct insurers,
The AA index showed a rise of 2.5% in the second quarter.
James Harrison, chief executive of Insurancewide.com, said: “Our motor insurance comparison service has access to all types of rates from almost the entire UK insurance market, all of which we draw from when we guide our customers to the most relevant insurer for their needs.
“The recent fall in average premiums in Q2 reflects the rates of almost every insurer and broker in the UK, including direct insurers such as Swiftcover.com and Its4Me
James Harrison, chief executive of Insurancewide.com
"The recent fall in average premiums in Q2 reflects the rates of almost every insurer and broker in the UK, including direct insurers such as Swiftcover.com.”
The Insurancewide car insurance premium index reveals that the average UK premium was £738 in April 2007, falling to £703 in June, a drop of 4.6%. Some of the direct insurers proved to be the most competitive.
Harrison added: “The falling premiums reflect the competitive pressure insurers are under to retain and attract ever-savvier customers.
"Our hope is that by continuing to include as many insurers and brokers as possible in our comparison service, we can provide a quote for every type of driver, particularly those drivers who other comparison services can’t help because they don’t have enough market coverage.”
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