Consumer premiums fall 7% in Biba and Acturis index
Biba figures show continued premium drops for home and motor.
The latest British Insurance Brokers' Association (Biba) and Acturis Insurance Price Index has revealed that the premiums paid in its consumer ‘shopping basket' for motor and home insurance have dropped almost 7% in the last year.
The index, which measure nearly £5bn of premiums, fell by 4.9% in Q2 2014 compared to Q2 in 2013.
Biba said that this, coupled with the current inflation rate of 1.9%, provides a real term customer saving of nearly 7% in the last year.
Downward
For motor only insurance
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