Car insurance news
28/07/2009
Women may have to pay more for cover
New independent financial research from Defaqto says that all premiums, including those for car insurance for women, will have to increase by 20 per cent if the insurers are to make a profit.
In 2008, the average policy price increase was 8.7 per cent, but the new data has revealed that this was not sufficient to make underwriting profitable.
The report, Motor Insurance 2009: Another Bumpy Ride warned of the inevitable price increases suggesting that insurers will have to decide to price their products either for profit or to gain market sector, but that they are not going to be able to do both.
A spokesperson for CoverGirl, specialist providers of car insurance for women, said, "As a dedicated online car insurance provider we keep our overheads to a bare minimum and this enables us to offer careful female drivers some of the best renewal premium quotes possible."
