According to insurance comparison website Tiger.co.uk, motorists who have been struggling to find a cheap car insurance quote may now find it a little easier.
A report by the website has revealed that annual premiums in January 2012 have reduced by 2.5% when compared to December last year. Furthermore, February 2012 has seen a further 0.1% reduction in the cost of car insurance.
When comparing the average price of motor cover this time last year, there has been a decrease of 2.7% in total.
However, it is important to remember that this reduction in cost follows a 45% increase in the price of motor cover which only stabilised around the middle of 2011.
This means that although drivers may finally be getting some respite from the high cost of cover, they may still be receiving car insurance quotes which are significantly more expensive than they have managed to gain in the past.
A spokesperson from Tiger.co.uk states, “Our Tiger Watch data again shows that the massive inflationary pressures of 2010 and the first part of 2011 have receded and relative sanity seems to be returning to the car insurance market.”
Nevertheless, it is recommended that road users take the time to compare quotes to find the best cheap comprehensive car insurance available for them.