UK insurance price hikes outstrip Europe

Car insurance in the UK has risen far sharper since 2015 than in any other comparable European country.

According to analysis commissioned by the SNP, average premiums in the UK have more than doubled in the last decade, with average policies now 102% more expensive than 2015.

This compares to a 35% increase during the same period in the Netherlands and a 33% rise in German. Meanwhile, motor insurance costs have gone up just 21% in France since 2015, 18% in Spain, and just over eight per cent in Sweden.

Premiums have even decreased in some counties, such the Republic of Ireland (21%), Belgium and Denmark (both around the three per cent mark).

Shadow SNP spokesperson (economy) Drew Hendry said: “The Association of British Insurers has suggested that energy inflation, the increased cost of materials, and the expenses related to second-hand and courtesy cars are driving this increase. However, these factors do not fully account for the significant disparity between the UK and the rest of Europe.

“The pressing question remains: why are UK drivers subjected to such exorbitant costs compared to our European neighbours? Is this a consequence of Brexit, or are there other factors at play? Moreover, what actions is the UK government taking to address this glaring pricing disparity?”