Motor premiums plunge by over 10%
The average annual comprehensive car insurance policy fell by 12.4% over the 12 months ending 30 September, according to the AA British Insurance Premium Index.
The company said that the drop in the third quarter of 2013 for its "Shoparound" quote to £568.32 - an average of the five cheapest quotes for each ‘customer' in a nationwide basket of risks - meant the yearly fall was the biggest since the index started in 1994.
Simon Douglas, director of AA Insurance, commented: "These drops are dramatic and many insurers are reducing rates based on anticipated savings from new measures in the Legal Aid, Sentencing and Punishment of Offenders Act (Laspo) 2012
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