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Car insurance is at its highest

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by Kay Mitchell

In the first quarter of 2007, the average cost of an annual car insurance policy rose to £822 – a rise of 2.5%.

The AA’s latest index indicates shows that over the last year, premiums rose by 8% in spite of falling in the previous quarter. The figures are double that of an insurance policy 10 years ago.

There is still a large gap between premium income and the cost of claims so according to AA Insurance, they are not surprised to see the generally upward trend of the previous year resuming, it is possible the trend will carry on.

The AA’s index also showed that third party, fire and theft insurance was at its great ever level moving over £1,000 on average for the first time.

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News posted: July 6, 2007

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