As we motorists go from one price increase to the next it was inevitable insurance premiums would rise this year for many of us.
But quite the scale of that rise has taken us by surprise with analysis compiled by Compare the Market showing the price to insure cars from manufacturers including VW, Audi, BMW, Ford and Vauxhall have increased by almost 50% in a year.
In July, the average cost to insure a VW was around £920 on average – a whopping £292 more than last year.
The picture is even worse for Audi owners with the average cost increasing by £301 to £981, while another German powerhouse - BMW – saw the average cost of insuring its cars increase to £1,188 last month, £374 more than last year.
Owners of Fords saw average insurance prices his £716 last month - £223 more than last year – while Vauxhalls typically cost £767 to insure after a rise of £238. more. T
Inflation has predictably been blamed for the increases while ongoing high levels of crash for cash scams continue to push prices up for the rest of us.
How much of this can be put down to profiteering will probably never be known.
If you’re in the market for cover, here are five tips to help keep your premium as low as possible:
Shop Around: Don't settle for the first offer you get. Compare prices from different insurance companies to find the best deal. Compare car insurance with Go Compare and get free £250 excess cover https://www.regit.cars/insurance
Increase Security: Adding security features like alarms or tracking devices to your car can lower your insurance costs.
Drive Carefully: Maintaining a good driving record with no accidents or traffic violations will help to reduce your insurance premiums.
Choose a Higher Excess: If you're willing to pay a bit more out of pocket in case of a claim, a higher excess will reduce your initial premium in most cases.
Bundle Policies: If you have other insurance policies like home or life insurance, bundling them with your car insurance can lead to discounts.
