Car insurance premiums surge 58% in a year
According to research by WTW and Confused, car insurance premiums have soared to a record high with a 58% rise in 2023.
UK motorists now pay on average £995, a £366 increase during the past 12 months. During 2022, comprehensive car insurance premiums increased for motorists by 19%.
The Confused Car Insurance Price Index found an average price rise of 8% (£71) in the last quarter of 2023. This suggests a slowdown in rises as premiums leapt by 19% in the third quarter, the highest jump since the index was launched in 2006.
Premiums have climbed for nine straight quarters.
The index is based on price data collected
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