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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 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 [...] -
Premium prices spike 19% in three months
- 19/10/2023
- Posted by: Alan Feldberg
- Category: News
Motor insurance rose 19% in the third quarter of the year to reach a new high of £924. Over the year, premiums have shot up 58%, or £338, compared to this time last year. This is according to data from price comparison site Confused.com, which says this is the highest annual increase since it started tracking [...] -
Motor insurance payouts up a third
- 07/09/2023
- Posted by: Alan Feldberg
- Category: News
Motor insurers paid out £2.5bn in claims in the second quarter of this year, according to the Association of British Insurers. This represents a 29% increase on the £2bn paid out in the same quarter last year. A 46% rise in vehicle repairs to £1.5bn drove the increase, while the cost of providing replacement [...] -
NBRA: premium hikes were inevitable
- 15/08/2023
- Posted by: Alan Feldberg
- Category: News
The National Body Repair Association (NBRA) has said the 21% annual rise in motor insurance premiums is not surprising. Board member Wayne Mason-Drust said: “For almost a decade, the cost of repairing a car following an accident has increased far below inflation. Car insurers have tightly controlled repair costs [...] -
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 [...] -
ABI data reveals surge in motor claims
- 08/06/2023
- Posted by: Alan Feldberg
- Category: News
Data from the Association of British Insurers have revealed that payouts for motor claims have risen by 14% in the last year to £2.4bn. This is 11% up on the final quarter of 2022 and the highest amount recorded by the ABI since it started keeping records in 2013. Insurers settled 599,000 claims in the first [...] -
Research reveals range of labour rates
- 06/04/2023
- Posted by: Alan Feldberg
- Category: News
New research has revealed the discrepancy between garage labour rates around the country. According to What Car?, the cheapest areas charge as little as £47 per hour and the priciest £141. It researched the labour rates of 279 independent garages across the UK, looking at hourly labour rates to compare prices [...] -
Repair costs surge 40% since 2018
- 21/03/2023
- Posted by: Alan Feldberg
- Categories: Featured, News
The cost of vehicle repairs has risen by a staggering 40% from 2018 to 2022, according to Intelligent Motoring. It also found the average cost of warranty claims rose 37% between July and December last year, suggesting that higher prices for repairs are here for the foreseeable future. Intelligent Motoring’s [...] -
EV services up to a third cheaper
- 23/02/2023
- Posted by: Alan Feldberg
- Category: News
New research has found that electric vehicles are up to a third cheaper to service than petrol, diesel and hybrids. According to BookMyGarage, servicing an EV costs an average of £103, compared to £163 for diesel, £159 for hybrids and £151 for petrol cars. Furthermore, overall average maintenance bills are [...]
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