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Insurance premiums 'increased in 2009'
The AA British Insurance Premium Index found that car, buildings and contents insurance all increased during the last quarter of 2009.
Car insurance rose the highest with an average hike of seven per cent across the last three months of the year.
Average annual car insurance for a comprehensive policy now comes in at just over £1,000.
Combined buildings and contents insurance rose by 4.8 per cent during the same period to average an annual premium cost of £184.
Simon Douglas, director of AA Insurance, commented: "This steady rise reflects both the rising cost of repairing buildings and the increasing frequency of claims.
"2009 saw a number of extraordinary, although often localised, severe weather claims which have included surface water flooding, often in places with no history of flooding, as well as flooding from swollen rivers."
The AA index has become an industry benchmark through monitoring home and car insurance premiums since 1994.
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Car insurance rose the highest with an average hike of seven per cent across the last three months of the year.
Average annual car insurance for a comprehensive policy now comes in at just over £1,000.
Combined buildings and contents insurance rose by 4.8 per cent during the same period to average an annual premium cost of £184.
Simon Douglas, director of AA Insurance, commented: "This steady rise reflects both the rising cost of repairing buildings and the increasing frequency of claims.
"2009 saw a number of extraordinary, although often localised, severe weather claims which have included surface water flooding, often in places with no history of flooding, as well as flooding from swollen rivers."
The AA index has become an industry benchmark through monitoring home and car insurance premiums since 1994.
© Copyright.
Published: 29/01/2010
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.