Industry News from Yes Insurance

People in the UK are paying more for their car insurance policies today than they were one year ago, new research has found.

The car insurance index from Sainsbury's shows that the mean price of a premium in June was £514.36.

According to the group, this marks the first time that the amount has exceeded the £500 mark since the index was first collated in June 2005.

The company added that this is an average increase of 5.8 per cent recorded between July 2007 and June 2008.

Joanne Mallon, Sainsbury's car insurance manager, remarked that a greater amount of personal injury claims and repairs is behind the rise in policy prices.

Meanwhile, recent research from moneysupermarket.com has found that female drivers who have just passed their driving test pay around £1,200 less for an initial car insurance policy than men in the same situation.

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