Car premiums up 7.8% since start of 2022
The cost of car insurance has risen 7.8% since the start of the year after new rules came in to tackle the practice of “price walking”, research by Consumer Intelligence has revealed.
Over the first five months of 2022, the increase in the average motor insurance premium took a typical policy to £786.
The specialists had previously found that prices shot up in January after dual pricing rules from the Financial Conduct Authority came into force.
Consumer Intelligence’s latest motor insurance price index detailed that in the year to date, drivers aged over 50 had been hit the hardest with a 9.7% rise.
In the period to May 2022 people aged 25 to 50 faced a 7.7% rise with
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