Car Insurance Set To Rise

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Car insurance premiums are set to rise about three percent in the coming months, as companies attempt to squeeze more dollars from their market share and shore up ailing profit margins. The forecast comes from new research released by JP Morgan and the consulting firm Taylor Fry, which.

Car insurance costs continue to soar, with prices 14 per cent higher year-on-year. Last year it cost almost £100 more for car insurance than the year before, and 2017 is set to see prices rise further.

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Put together, these have led to the steepest rise in car insurance premiums for 15 years, according to the AA's British Insurance Premium Index. In the past 12 months, the cost of a typical comprehensive car insurance policy has risen by £100, from £721 to £821 (up 14%).

In addition to their rising numbers, the vehicles themselves are changing, with more technology loaded inside, which lifts the price of the vehicles. That becomes another factor boosting insurance rates. More technology also increases instances of distracted driving, which claimed 3,477 lives in 2015.

CAR insurance premiums are set to skyrocket to record high in 2018 with average premiums to cost from £900. Premiums are set to reach their most expensive levels ever by the end of 2018 and are just £31 short of the highest average price in 2011 (Q2, £858).

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Do you already feel that your insurance premiums are too high? If so, you may be in for a rough time, with home and car insurance premiums Premiums on compulsory third party (CTP) insurance are expected to increase particularly high, with the report predicting a 13% increase to CTP premiums in.

Car insurance prices are set to go up by another 20%. An Oireachtas Committee examining the rising costs of motor insurance yesterday heard that some premiums have more than doubled in recent years. The AA says they expect further increases over the next two to three quarters unless action is.

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"The insurance regulator has given us parameters to work with so we have to set limits under the scheme. "The minimum has been increased, which is good for the insurance companies because there has been a lot of competition, especially for cars of lesser value." The new system includes unified.

Peter Topley from Topley driving school speaks of his worries over the future rise in car insurance and the effects it will have.

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