Car premiums drop for second quarter in a row
Comprehensive car insurance premiums fell by 6% (£59) between April and June 2024, the second quarter of decreases according to the latest research by Confused/WTW.
The index found that on average UK motorists now pay £882, £113 less than six months ago.
Prices had increased for nine straight quarters before the run was broken at the start of the year with a 5% fall.
After a sustained period of significant rate increases to counter the high levels of inflation, it is interesting to see from this data a change in insurers’ behaviour indicating that premium adequacy may now be sufficient to allow insurers to drop rates.Tim Rourke, UK head of P&C pricing
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