Car Insurance Prices Drop

January 21, 2014 5:17 pm

In the fourth quarter of 2013, car insurance prices were reported to have dropped by as much as 12.5% annually with a 7.5% drop for third party insurance as well. This welcome news comes at a time when the financial times is reporting that the car insurance companies price “war” may be coming to an end. The major insurance companies have been at odds in the stock market for sometime now, but recently pretty much all of their share prices have gone up showing an ease in the warring industry.

What does this mean for the average person? Well, it is likely that this might be related to the drop in prices for people buying car insurance and if this continues, we could see a further dip in prices allowing for cheaper and more affordable car insurance. Arguably, a win win situation.

However, that is not all that we have to celebrate. There is even more good news conveyed in recent headlines as Europe’s largest insurer, Allianz, has invested over 400 million euros in further support for renewable energy plans, including reportedly buying upward of nine wind parks in the last year. With around 1.75 billion now invested in renewable energies, Allianz is doing wonders for their “family friendly” image which they portray in their latest advert where they depict themselves as the insurer of millions of “school runs” worldwide.

There can be no doubt that insurance is one of the biggest industries in the world and so it is refreshing to see some positive stories being released about them doing some good in the world, especially when there is so much hatred in the media for big financial companies. However, most of all, let’s hope that the lowering of car insurance prices was not just a one off and that we continue to see low and competitive prices from all the big insurance companies in the coming years.

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