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Insurance Premiums at an all Time Low

Insurance Premiums at an all Time Low

It appears that 2014 is the year for cheap car insurance, with competitive brokers and alterations in insurance law giving way to happy drivers throughout the UK. Last year’s study proved a 19% drop in car insurance pricing, with the average policy decreasing by £140 from the previous year. Although the news is filled with edited highlights of the state of the insurance industry it seems that have taken into account all demographics, painting an accurate picture of the insurance market at present. revealed that premium reductions were made for both male and female motorists, including all ages. The group infamously stung by high premiums is new drivers with 17-year-olds often unable to meet the high prices put forth to them by the industry. It was reported that coverage for 17-year-olds fell by 39% last year, giving them a saving of £1,400 for the whole year. It seems that it is not only the youngsters that are reaping the benefits of cheap car insurance. The average 50-year-old has seen a 20% drop in premiums, making the average policy close to the price of £511. This goes to prove that the insurance market is in revision, with firms actually wanting to lower the price of premiums for their customers. Of late the news has been filled with taxi insurance firms, revealing a strong business hunger to sustain these low rates. We spoke to High Gear Insurance, the new taxi insurance specialists. They are showing a particular passion for keeping taxi insurance for females low, ensuring that this niche group are receiving an admirable service. ‘At High Gear we are working with a mission to maintain low prices, especially for female drivers. Over the past year we have seen more and more female taxi drivers who have been overjoyed with the low premiums we can offer them. What a great welcoming to the industry!’ We at Lady Motor are keeping our fingers crossed, hoping that firms such as High Gear and Insure Your Taxi continue to support female taxi drivers with competitive rates.

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