Motor premiums surge to record high
Motorists are paying 58% more than a year ago for comprehensive car insurance, according to the latest research by Confused and WTW.
Average premiums paid soared by 19% in the third quarter to £924, the highest quarterly jump since the Confused Price Index was launched in 2006.
The cost, £338 up on the same quarter of last year, broke a new record succeeding the previous quarter’s peak. The index has now risen for eight quarters in a row.
The researchers noted that with insurers battling sustained cost pressures, the rises continue to far outstrip the CPI rate of general inflation, which was below 7% in August.
The figures
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