Tag Archives: Car Insurance

IT’S COMPETITION TIME!

Go Pro

That’s right folks, it’s competition time again and this year we are giving away a state of the art Go Pro!

It’s easy to enter. All you have to do is call us for a quotation between now and the 17th December and you will automatically be entered into our prize draw. Obtaining the quotation couldn’t be easier, just call 02380 268351 or visit www.aib.co.uk and one of our friendly insurance consultants will call you back.

 

Here at AIB, we pride ourselves on providing competitive insurance to suit all your specialist needs. We have particular schemes with our insurer partners to provide you with a price and cover that you simply can’t get on the comparison websites.

Below are some of the policies we can offer you:

Once the winner has been drawn in December we will contact you via telephone to organise delivery – good luck!

Giveaway Winner

 

The Average Cost Of Insuring A Car Is Still Going Up

MotorEvery quarter, the Confused.com Car Insurance Price Index is published which looks at the average cost of fully comprehensive car insurance across the UK. The latest index covering the third quarter of 2017 provides some interesting data some of which we mention below.

Unfortunately, car insurance premiums have risen by an average of 14% per annum in the 12 months to the end of September 2017. In monetary terms this is an increase of £101 per annum from £737 per annum in the third quarter of 2016 to £838 per annum in the same quarter of this year. This is despite a small fall in premiums of 1% when comparing the second and third quarters of 2017.

It is no secret and not surprising that it is the young drivers who have to pay more for insuring their vehicles than the more mature, experienced motorist. For instance, a 17 year old is paying an average of £2,272 per annum whereas a 34 year old is paying an average of £705 per annum. It is interesting that a 51 year old driver is paying slightly more – an average of £717 per annum. A motorist who is 68 years of age is paying an average of £566 per annum to insure his or her car.

Despite the EU Gender Directive of December 2012, the average premium paid by a man for motor insurance is £890 per annum yet for women it is £774 per annum – a difference of £116 per annum.

On a regional basis, the average cost of someone living in the West Midlands to insure their car has gone up by more than anywhere else in the UK in the last 10 years. There has been a staggering rise of 87% in a decade. A driver in the Borders of Scotland has seen the largest average increase on a quarterly basis with a rise to £684 per annum that equates to an increase of 12% in the space of 3 months to September 2017.

It is being forecastMotor by some that car insurance premiums are likely to continue rising in 2018. Therefore, it is important that you shop around for your cover to try to obtain a competitive deal. In this respect, why not give us a call at AIB Insurance on 02380 268 351 and speak with a knowledgeable member of our staff who will do all that he or she can to obtain a competitive quotation from the extensive panel of reputable insurers we have at our disposal.

Cost Of Car Insurance Has Been Increasing

Increasing Cost Of Car InsuranceUnfortunately, for many motorists, the cost of insuring their cars has been on the increase for quite some time as insurers have raised their premiums for a number of reasons. This is borne out by the Confused.com car insurance price index covering the second quarter of 2016.

The above index reveals that the average cost of fully comprehensive car insurance rose an average of 19% when compared with the second quarter of last year. The average premium for this level of cover in Q2 of 2016 stood at £715 per annum. You have to go back to Q2 of 2011 before you will find a larger year-on-year % increase when premiums rose by 25%.

When you compare the cost of insuring your car with this type of cover between Q1 and Q2 of 2016, premiums have gone up by 6% in the space of 3 months with this equating to a monetary increase in premiums of an average of £44 per annum.

Looking at premiums on a regional basis, it is Northern Ireland that has seen the biggest annual increase with a rise of 25% in the 12 months to the second quarter of 2016. In that quarter, Motorists in that part of the UK were paying an average of £863 per annum. Those motorists living in Inner London pay more on average for their comprehensive car insurance than any other UK region – £1,164 per annum. Motorists in the South West saw their premiums rise by an average of 20% in the 12 months to Q2 of 2016.Increasing Cost Of Car Insurance

However, on the positive side, motorists living in Kirkwall in the Orkney Islands and Hereford saw their premiums drop by average of 4% and 2% respectively.

Interestingly, it is the young motorist who has seen the smallest annual rise in premiums with 17 year olds paying, on average, an extra 8% when comparing Q2 of 2015 with Q2 of 2016. A 61 year old has seen premiums rise by an average of 24% over the same period. Having said that, a 17 year old would pay an average of £2,103 per annum for their cover whereas a 61 year old would only pay an average of £418 per annum.

So, if you have just received your car insurance renewal notice or are shortly to do so, you may wish to shop around to see if you can get a better deal on your cover elsewhere. In this respect, why not get in touch with us here at AIB Insurance on 02380 268 351 and speak with an experienced member of our team who will endeavor to obtain a competitive quotation for car insurance for your consideration.