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Car insurance premiums shoot up
Car insurance premiums are rising at the fastest rate in 15 years.
Data from the AA shows, over the last 3 years, average car insurance quotes are up 5 point 6 per cent on a comprehensive policy and up 9.3 per cent on third party and theft.
The car insurance industry has long been making a loss with a hundred and ten pounds being paid in claims for every one hundred pounds taken in premiums
Online comparison sites have increased competition leaving insurers with the choice of putting up premiums or losing customers.
Largest car insurance increases were recorded for young drivers with average third party, fire and theft cover up 17.6 per cent in the last year to £1 thousand and fifty nine pounds.
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