Fraud pushes up motor premiums
Fraud is helping to push car insurance premiums up at their fastest-ever rate, according to the latest AA British Insurance Premium Index.
During the quarter ending 30 June, premiums rose by more than 11% – the biggest increase recorded by the benchmark study since it started tracking quarterly car and home insurance premium trends 16 years ago.
The index’s average shoparound premium, which is an average of the cheapest three premiums returned for each customer in the basket of risks, topped £704 for an annual comprehensive car policy, up 11.5% in just three months. The previous biggest increase was only six months ago.
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