LONDON (AFX) - Third-quarter car insurance rates rose for the second consecutive quarter, while cover for buildings and contents fell slightly, according to the AA's British Insurance Premium Index.
The price for comprehensive car insurance rose in the third quarter to an average of 772.13 stg for a year's cover, compared with 762.11 stg in the previous three months.
The 'shoparound' rate -- the average of the three lowest quotes -- fell 1.35 pct to 458.81 stg for a year's cover from 463.66 stg.
Premiums for third party, fire and theft cover, typically bought by younger drivers, rose to 998.21 stg, or 4.62 pct, compared with 955.29 stg in the previous three months, resuming a long-term upward trend.
'As motor becomes less predictable, household insurance is becoming the next battleground and is therefore the next big worry in terms of requiring a big price correction,' said Kevin Sinclair, the managing director of AA Insurance, one of the UK's biggest motor and insurance brokers.
Tags:
AA Insurance
Longterm upward trend
House hold Insurance
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