Uswitch comments on Ernst and Young report that motorists face 8% premium hike in 2016
Commenting on Ernst and Young’s biannual UK motor insurance results report that motorists face an 8% premium hike in 2016, Kasey Cassells, insurance expert at Uswitch.com, says: “This predicted hike in premiums is another blow to drivers who have already been hit by a rise in insurance premium tax this year.
“Young drivers who tend to have the highest premiums to pay could see their policy increase by £40 due to the insurance premium tax hike from 6% to 9.5%. This additional increase of a further £30 per policy may well push more drivers off the road as they struggle to cope with the ever rising cost of driving.
“With these increases pushing up premiums, shopping around and switching to a new provider has never been more important.”
Find out how you could save over £1,000 a year with Uswitch here.
FOR MORE INFORMATION
Ailene Barr
Phone: 020 3872 5610
Email: ailene.barr@uswitch.com
Twitter: @uswitchPR
Notes to editors
All figures based on average insurance premiums from the AA British Insurance Premium Index. 1. Average premium for drivers aged 17-22 in 2015 Q2 was £1,241.81. Without the 6% tax this would be £1,171.53, and with the 9.5% tax this would increase to £1,282.81. This is an increase of £41
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