Thursday 31st July 2008
Be Wiser Insurance

One of Britain's leading car insurance groups has commented that car insurance will still be in demand despite the rising cost of premiums, according to reports.

Admiral has predicted that premiums will become more expensive due to a stronger pricing environment, but suggested that the precedence of cars in British life will keep demand for car insurance strong.

David Stevens, the group's chief operating officer, said: "A car for most people is a necessity, not a luxury, so demand is not going to fall off a cliff as it will in other sectors."

Statistics show that car insurance premiums were five to six per cent more expensive in the first half of 2008 when compared to the previous year despite fewer claims being made due to high petrol prices, which reduced car use.

Cardiff-based Admiral announced record pre-tax profits of £100.3 million for the first half of 2008 this week, it has been reported.

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