Motor insurance prices at record high – ABI
The average premium paid for private comprehensive motor insurance in the second quarter of this year was £511, according to the Association of British Insurers, the highest figure since it started collecting the data in 2012.
The result was up 7% on the previous quarter and 21% higher compared to the first quarter of 2022.
The figures follow on from the Confused Car Insurance Price Index in association with WTW, which found a price rise of 18% in the second quarter of 2023. It reported comprehensive car insurance premiums rising by a record 40% during the last 12 months, with UK motorists now paying £776 on average.
AnalysisThe ABI’s analysis covers over seven million policies sold during the second quarter, and
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