Insurance for used cars rises

Tue, 09 Mar 2010



Recent research by car insurance company Admiral indicates that the average cost of an insurance policy for both new and used car drivers has climbed during the last twelve months. A 12 per cent average increase in the cost of insurance policies last year indicates that 2010 could see further price hikes. With a number of cheap car finance deals on the market, and car companies thought to be offering discounts, the added insurance may still not discourage consumers.

Mr. Engelhardt of Admiral was reported as commenting: "We put through premium hikes of about 12 per cent over 2009, mostly in the second half. It is certain to carry on rising. I can't say exactly how much - it depends on how much pressure our competitors are under."

With personal loans less available through much of 2009, many car buyers turned to dealer finance to purchase new and used motors .
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