Car Loan news - Car Insurance prices increase from last year.

Motor insurance company Admiral has conducted research and found that the average price of a car insurance policy for all drivers has increased over the past 12 months. There was a 12 per cent rise in typical cost of an insurance policy in 2009. It is also being predicated that 1010 could see another increase in price.

Fraud and dwindling profits are to blame according to Admiral; they also state that the ballooning of claim values hasn’t helped the increase in price.  “We put through premium hikes of about 12 per cent over 2009, mostly in the second half. It is certain to carry on rising. I can’t say exactly how much – it depends on how much pressure our competitors are under.” State Mr. Engelhardt, Chief Executive of Admiral. 

In related news, Car finance reporter Maurice Gran has stated for the Daily Mail, that used car owners wanting to renew their car insurance online could create more problems than anticipated.

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