Petrol companies give back, and insurance companies take away

Hayley Parsons, Chief Executive of leading insurance comparison website Gocompare.com, comments on increases in car insurance premiums highlighted by the AA's premium index: "Sadly, for motorists today it is a case of; ‘what the petrol companies are giving back with one hand, the insurance companies are taking away with the other'!"

"While everyone is all too aware of the changes in petrol prices in the last 12 months, insurance costs have been rising in excess of 8 per cent a year for the past 14 years. Insurance providers don't generally go out of their way to point out how much our renewal premium has gone up and as a result, it has largely gone unnoticed."

"For many, there is no alternative to paying higher petrol prices, but everyone can do something about their insurance premium. The AA's ‘Shop-around Index' shows that those who don't just say yes to their insurance renewal can save, on average, £237 for a fully comprehensive policy."*

"The message to consumers is to shop-around. Not all insurers are hiking premiums and different providers take a different view of each individual and the risk they represent. As a result, it is more important than ever that consumers don't just accept the first quote that they are given on their insurance."