Cost Of Motor Insurance Continues To Rise

If you are a classic car owner and your insurance has recently come up for renewal then you may well have noticed that your classic car insurance premium has increased in comparison to what you have been paying for the previous 12 months.

Car insurance premiums have been increasing of late so you may have found your classic car cover costing more so you may wish to shop around

The cost of car insurance has been on the increase for many motorists.

The AA British Insurance Premium Index for the third quarter of 2016 has revealed that the average cost of fully comprehensive car insurance has gone up by 16.3% in the 12 months to the end of September 2016. In monetary terms that equates to a rise of £82 per annum in someone’s premium. We are sure that you will agree that is a sizeable increase.

In fact, there has been a rise of 3.7% just in the third quarter of this year for fully comprehensive car insurance. This is an increase of over £20 per annum.

Unfortunately, there are no doubt quite a few owners of classic cars that do not pay a great deal of attention to their renewal notice that arrives through their letterbox once a year. Some may just give the paperwork a cursory glance noting that the premium has gone up and then just place the documents with last year’s renewal notice in a drawer. Rather than do that, you may wish to do some research to see if you can get the level of cover that you require but for a lower premium from another provider of classic car cover.

There are numerous providers of classic car insurance as you would discover if you went onto the Internet and typed in something like “classic car insurance quotes”. For instance, there are many specialist price comparison websites offering such cover and it should only take a few minutes to check to see if you can obtain the cover you require but for a cheaper premium. Who knows, you may be able to save yourself a few pounds.

About Anne Jacobs

I am a full time insurance underwriter with a love for writing. I work in the UK at a classic car insurance company. My other hobbies are going to the gym and aerobics (when I am not looking after my 3 year old daughter Jessie.
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