Day, head of Marketing at Chris Knott Insurance, comments "Industry
stats show that car insurance premiums fell by as much as 14% across 2013.
Indeed, our own average premium fell from £398 to £346 mirroring the
predict with any certainty what will happen next is really quite
difficult. Rates are clearly already too low for insurers to be able to sustain long-term.
They fell too quickly as providers sought to gain volume. Sense would say that rates need to
at least plateau and perhaps even rise to a more sensible level but who will be the first to blink? The industry is known for its see-sawing rates and doesnít do itself any favours.
As things stand I donít anticipate much movement until after the fiscal year end in April. Insurers will
then look at their operating ratios, i.e. claims costs versus written premium, and take a view.
If I had to jump one way or another I'd anticipate a small increase
adds "You can be confident though, whatever happens, that we will respond to any changes and continue to help
customers get the best deal".
KNOTT QUOTELINE: 0800 917 2274