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Motor insurance prices continue sharp rise
- 05/02/2024
- Posted by: Alan Feldberg
- Category: News
Motor insurance prices jumped another 12% in the fourth quarter of last year, meaning premiums rose by more than 25% over the whole year. According to figures released by the Association of British Insurers, average polices in the last three months of 2023 were £627. This is 12% higher than the £526 recorded in [...] -
Motor insurance prices surge 67%
- 12/01/2024
- Posted by: Alan Feldberg
- Categories: Featured, News
The average quoted price of motor insurance rose 67% in the year to November, according to data from the Consumer Intelligence Car Insurance Price Index. This represents the sharpest annual price rise on record, beating the 61% rise in the year to August. Younger drivers have experienced the biggest rises in [...] -
Garage parking raises premiums
- 20/12/2023
- Posted by: Alan Feldberg
- Category: News
New research has found that using your garage as the main parking space at home can add £54 to car insurance policies. The research, conducted by Go.Compare, reviewed the cost of policies bought through its site between May and July of this year. It found that the average cost for those who park their cars in a [...] -
Car premiums makes up 20% of young driver salaries
- 22/11/2023
- Posted by: Alan Feldberg
- Category: News
New data has found that young drivers are spending more than 20% of their annual income on car insurance. According to figures from the House of Commons Library, the average UK salary in 2022 was £33,280 while the average car insurance premiums were £924. That means on average car insurance premiums account for [...] -
Motor insurance up nearly a third
- 08/11/2023
- Posted by: Alan Feldberg
- Category: News
Motor insurance increased to an average price of £561 in the third quarter of the year, according to data from the Association of British Insurers. This is 29% higher than the same period last year and nine per cent up on the second quarter of the year. Increases were attributed to a 16% rise in the cost of [...] -
Premiums soar to record high
- 11/08/2023
- Posted by: Alan Feldberg
- Category: News
The Association of British Insurers has reported that average comprehensive motor premiums have risen to record highs. Its premium tracker analysis 28 million motor insurance policies in the UK and found that the average premium paid for private comprehensive motor insurance was now up £511. This is up seven per [...] -
Soaring premiums to continue rising
- 31/01/2023
- Posted by: Alan Feldberg
- Category: News
Car insurance premiums saw the biggest annual rise in six years in 2022. According to the Confused.com Car Insurance Price Index in association with WTW, average comprehensive premiums rose by 19% last year to an average price of £629. The sharp rise was capped by a seven per cent increase in the last three [...] -
Insurers contribute £17.2bn in taxes to UK economy
- 15/12/2022
- Posted by: Alan Feldberg
- Category: News
The insurance and long-term savings industry has contributed a record £17.2bn to the UK economy in tax in 2021-22, according to the Association of British Insurers’ (ABI) latest Total Tax Contribution Survey. The annual survey found that the sector contributed 6.9% more in tax in 2021-22 than in 2019-20, marking [...] -
Motor premiums creeping up
- 08/08/2022
- Posted by: Alan Feldberg
- Category: News
The average price of motor insurance rose in the second quarter, according to data published by the ABI. Its Motor Insurance Premium Tracker found that the average policy has increased to £419. This represents a marginal increase of £5 on the previous quarter, but remains £11 lower than the same time in [...] -
Motor insurance sinks to five-year low
- 05/08/2021
- Posted by: Alan Feldberg
- Category: News
Motor insurance is at a five-year low, according to the ABI’s latest Motor Insurance Premium Tracker. It found that for the second quarter of the year the average price paid for comprehensive motor insurance was £430, down £6 on the previous quarter and £30 over the last year. Meanwhile, over the first six [...]
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