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Car insurance premiums to remain high - Financial news from Quotesure - 06/07/2005


Car insurance premiums are set to stay high, according to website insuresupermarket.com.
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Car insurance premiums to remain high

Car insurance premiums are set to stay high, according to website insuresupermarket.com.

Following 2004 price increases, its new research shows that the average motor premium is now £579.57, compared with £589.54 in 2004.

Women are on average £86.14 cheaper to insure than men, although premiums with a women only insurer can cost up to twice as much, the report said.

Richard Mason, director of insuresupermarket.com, commented: "Insurance regulation may mean we see premiums rise slightly as insurers cover the cost of administration, and consumers need to continue to seek out the most competitive quotes for their motor insurance."

Top tips for reducing insurance bills include adding an older driver to your premium, which can reduce costs by between 12 and 15 per cent, and reducing mileage.

Average premiums for "cooler" cars are also between 20 and 25 per cent more expensive than other similar brands, and the report advises all consumers to "think" before they make a claim, as it could add 23 per cent to premiums.

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