Believe it or not but car insurance prices have lowered slightly over the final quarter of 2007. Car Insurance prices have been notoriously high, especially for younger or new drivers, for a long time but a report made by Experian, the Global Information service has found that the average cost of car insurance has dipped in the period covering October to December.
Don't expect major savings though, the drop was only a meagre 0.3% compared to the summer. This is however, still a welcome change with house prices and interest rates increasing, it's a welcome break that at least something has lowered no matter how insignificant.
The drop is the first in over three years, the last drop being in 2005. The numbers told a different story in the first half of 2007 with prices rising but towards the end of the year they levelled out and right at the end of the year they were down.
The drop may not last for long though, the insurance industry is normally a few months behind current events, and with the colder Christmas months just behind us this is likely to effect car insurance quotes in the coming months. Accidents are more likely over the Christmas period with icy conditions and people more susceptible to driving under the influence after a festive bout of merrymaking. The industry still hasn't adjusted from the floods in August which may complicate matters further.
For those nearing the time for renewing their car insurance it may be worth checking if you can get a better deal elsewhere with various car insurance quotes online. Check with your provider before committing as you may be able to make some savings elsewhere.
