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Average insurance premium falls by £5 in Q1, says AA
Date: 21 April 2015 | Author: Daniel Puddicombe
The average quoted insurance premium for a typical comprehensive car insurance policy fell in the first quarter of 2015, according to the AA.
The motoring organisation found the average quote - when using both direct/broker and comparison websites - fell by 1% or £5.58 to £530.47.
That compares to a rise of 0.2% in the last quarter of 2014 and a rise of 1.2% over the three months ending in September, while over the last year premiums have fallen by 5.8%.
The AA is predicting the insurance premiums will rise again after a strong first quarter. It claimed that insurance companies offer price reductions to build market shares when more policies are sold thanks to the registration plate change in March.
"We're starting to see insurers quoting higher prices and I think that's the beginning of a trend, but the market remains very competitive," said Janet Connor, managing director of AA Insurance.
