Car insurance costs 'to rise'
Car insurance premiums are set to rise over the remainder of the year, according to the insurance brokerage firm Admiral.
Already this year, increases of five and six per cent have been seen across the industry, Admiral claims, while the company's own policies are three per cent more expensive than they were this time last year.
It noted the current economic conditions are causing policy prices to rise in excess of claims for the first time in seven years.
David Stevens, chief operating officer of Admiral, the company which owns both Diamond and Elephant.co.uk, said: "A car for most people is a necessity, not a luxury, so demand is not going to fall off a cliff as it will in other sectors."
The Admiral Group was founded in 1993 and is based in Cardiff.
It specialises in insurance policies for high-risk groups as well as safer drivers, for example younger motorists, performance car owners or individuals who live in urban areas.
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