UK Money News
12th February 2008
Car insurance premiums rose 4.5% last year
Car insurance providers raised premiums by average of 4.5 per cent during the second half of 2007, new research shows.
According to data from price comparison site Moneysupermarket.com, the average lowest premium stayed at around £290 for the first six months of the year.
During the second half, however, providers imposed premium increases to bring the cheapest premium to £303.
Men were harder hit by the rises than women, with insurers imposing increases on them of 4.9 per cent and 4.1 per cent respectively.
However, while the disparity between prices for men and women has traditionally been attributed to women being safer drivers, this theory was dismissed by Richard Mason, director of insurance at the site.
He said: "Men are continuing to pay about £40 more for their insurance than women, but this has as much to do with the type of cars they drive.
"Men are more prone to buy cars with bigger engines, which then attract higher insurance premiums."
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