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Car insurance prices fall by 7.1%

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Comprehensive car insurance prices have dropped by an average of 7.1 per cent year-on-year.

This is according to the Watson car insurance price index, which discovered competition within the sector is behind the reduction in prices.

At the end of the second quarter of 2012, a typical policy was £797, which compares favourably with the £858 being charged 12 months ago.

Males are still facing higher premiums then their female counterparts, as they are expected to pay an average of £110 more.

Gareth Kloet, head of car insurance at, said: "We anticipate that drivers will continue to reduce their annual mileage as a result of high motoring costs and seek cheaper vehicles in their search for more affordable cover."

People aged between 17 and 20 face the highest premiums, with the typical price of cover put at £2,491, which is over £1,000 more than any other age bracket.ADNFCR-2576-ID-801407687-ADNFCR

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