Personal Finance: Drivers to Benefit in Insurance Price War
Thousands of drivers in Birmingham are set to benefit from falling car insurance as insurers wage what is fast becoming a price war.
That was the view this week of independent car insurance search site, Confused.com.
Its finding that premiums have fallen for the first time in five years was based on 27,500 quotes that compared prices from every major insurer in the UK.
And despite being one of the most expensive cities in the UK in which to insure a car, Birmingham has seen what the website called a 'significant drop' in average prices.
Premiums fell by more than pounds 19, or 2.2 per cent, to an average of pounds 872.52 between July and September. Average prices nationally fell by only pounds 6 to pounds 710 in the same period.
Kate Armstrong, managing director of Confused.com, said: 'The research, which is the most comprehensive ever undertaken in the UK, shows that the insurance market has become increasingly competitive over the last three months.
'Stimulated by an increasing number of insurers fighting for the same number of drivers, competition has led to price cuts. …