Car insurance premiums to reach record heights

Motorists could face record car insurance premiums soon, highlighting the need for them to shop around for cheaper car insurance quotes.

With the costs of accidents hitting higher heights, some car insurance companies have stated that the cost of car insurance policies could rise dramatically.

Admiral, which currently has more than 1.5 million customers, said there was a 'real prospect' of car insurance increasing faster than claims for the first time since the start of the decade.

And with more technologically sophisticated car models on the market, car insurance providers are struggling to maintain the flat prices, which motorists have enjoyed for the past few years.

According to the AA the average cost of a comprehensive car insurance policy has cleared the £700 price mark for the first time, with the average price of £702.47 six per cent higher than the same time in 2007.

Price comparison site Confused.com recently advised motorists that they could save over £200 on their car insurance by shopping around for cheaper quotes.

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