Motor insurance reaches highest point in two years
The average quote for comprehensive motor insurance in the direct market reached its highest point in almost two years in May 2007, according to Experian, indicating a move towards harder market conditions.
Announcing its new Motor Insurance Benchmark, developed to accurately measure motor insurance premium movements in the UK, Experian revealed that the average quote for private comprehensive motor insurance in the direct market increased by 7.9% in May 2007, compared to the same period in 2006 (rising from £519 to £560).
The intermediary market also saw premium rises, with the average comprehensive motor insurance premium reaching £529, its highest point in 11 months, but it was still 0.6% lower
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