ABI measures 2% drop in motor premiums in Q2
The average motor insurance premium fell by 2% in April to June compared to the first quarter of 2024, according to the latest data from the Association of British Insurers.
The drop reversed the direction of travel from the 1% rise in the first quarter of the year and took the average premium paid to £622.
RelatedFirst fall in car premiums for over two yearsComprehensive car insurance premiums fell by 5% in the first three months of 2024 after nine consecutive quarters of rises, according to the latest research from Confused/WTW.
However, this cost was still up on an annual basis, 21% higher than the same period in 2023.
It was the first quarterly reduction measured
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