Regular readers may recall Bankstone News reporting last week that motor insurance premiums were in the process of falling off a cliff, plunging the sector into a bottomless pit of despair. All b*llocks, as it turns out.
According to obscure comparison site Tiger.co.uk, “the April data shows that, after three months of successive monthly price decreases, inflation has returned to the [UK motor insurance] market with an increase of almost 2.2% on prices for last month.” If things carry on like this, we could see “an annual increase of over 26%”, warns Tiger man Andrew Ghoulborn.
Tiger knows this thanks to the power of Tigerwatch, which is not, as one might initially assume, some kind of novelty timepiece given away with packs of Kellogs breakfast cereal, but a special way of looking at quite literally hundreds of motor insurance policies across a literally wide range of driver profiles, which is guaranteed to provide the very earliest “indication of what’s happening to car insurance pricing.”
Given that Tiger appear to have April’s data in already, when we’re barely half-way through the month, Bankstone News can only assume that the remarkable Tigerwatch also confers on its proprietors the ability to see into the future.
April, as Tess of the Elliots, once memorably observed, is the cruelest month, and lady tigers have been particularly severely affected by the motor insurance premium inflation ravages of the current 30-day period, facing average rises of 3.2%, compared with a mere 1.2% for men. This could reflect the forthcoming implementation of the EU Gender Directive – or perhaps motor insurers have been watching some of those hilarious (and so-true) lady driver clips on YouTube (Get back in the kitchen/bedroom, luv!).
“It’s worrying to see such big month-on-month increases [surely, increase singular?] returning to the market,” says Andy Tigerman, who may have been attempting to evince empathy with his customers – or who may just be a bit anxious by nature.