Motor premiums increase by just 1% in Q1 – ABI
Motor premiums rose by just 1% in the first quarter of 2024, however the average claim paid increased by 8% according to the Association of British Insurers.
The ABI Motor Insurance Tracker found the average comprehensive car insurance premium now sits at £635.
£8How much more prices are when compared with the previous peak at the end of 2017
Motor insurance has tracked very close to inflation over the long-term, according to the trad body. Prices, it calculated, are £8 (+1.3%) more when compared with the previous peak at the end of 2017, partly due to prices falling during the pandemic.
Over the same period, the end 2017 to now, costs for insurers to
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