UK Car Insurance Premiums Reached 18-Month High in 1st Quarter: Survey - Comprehensive Car Insurance
Comprehensive Car Insurance
  • Home
  • News
  • Forums
  • Insurance Blogs
  • Tips & Guides
  • About us
  • Contact
No Result
View All Result
  • Home
  • News
  • Forums
  • Insurance Blogs
  • Tips & Guides
  • About us
  • Contact
No Result
View All Result
Comprehensive Car Insurance
No Result
View All Result

UK Car Insurance Premiums Reached 18-Month High in 1st Quarter: Survey

May 17, 2022
in News
0 0
0
UK Car Insurance Premiums Reached 18-Month High in 1st Quarter: Survey
Share on FacebookShare on Twitter

The price of a complete automotive insurance coverage coverage in Britain touched an 18-month excessive within the first quarter and can proceed to extend on the again of rising inflation and regulatory adjustments, a survey confirmed on Thursday.

UK motorists now should pay about 550 kilos ($718.08) for a complete automotive insurance coverage premium, in keeping with the newest index from worth comparability website Confused.com in affiliation with insurance coverage dealer Willis Towers Watson.

Automobile insurance coverage premiums had fallen for a 12 months until the autumn of 2021 as lockdowns stored motorists off the roads and competitors within the UK automotive insurance coverage trade intensified.

“As individuals return to extra regular patterns of labor and life, we’re seeing these reductions in premiums progressively unwind,” stated Tim Rourke, UK head of P&C Pricing, Product, Claims and Underwriting at WTW.

Rourke additionally expects premiums to proceed rising via 2022 as Britain battles excessive inflation and insurers face new guidelines by the Monetary Conduct Authority that guarantee customers renewing insurance policies should not charged greater than new prospects.

Britain’s annual inflation fee climbed to 7% in March, its highest since 1992.

“Costs might proceed to extend just because insurers are more likely to be dealing with extra claims than final 12 months, as individuals begin to drive extra continuously, and this simply means insurers should be as aggressive as attainable,” stated Louise O’Shea, CEO at Confused.com.

“And in flip customers might want to proceed to buy round, as the belief that renewal costs received’t improve clearly isn’t true.”

Eighteen-year-old drivers proceed to pay probably the most of any demographic, taking their common premiums to 1,419 kilos, the survey confirmed.

($1 = 0.7659 kilos)

(Reporting by Sinchita Mitra in Bengaluru; enhancing by Devika Syamnath)

Listed here are extra articles you could get pleasure from.

Thinking about Auto?

Get computerized alerts for this matter.

Source link

Tags: 18Month1stCarHighInsurancePremiumsQuarterReachedSurvey
Previous Post

Federal Judge Certifies Class Action vs. PGAC on Auto Policy Fees

Next Post

Alabama Auto Shop Owners Design Anti-Theft Cages for Catalytic Converters

Related Posts

The Documents You’ll Need to File a Car Insurance Claim

The Documents You’ll Need to File a Car Insurance Claim

June 27, 2022
What Is It And How Does It Work?
News

What Is It And How Does It Work?

June 27, 2022

In India, Why And How Is A Vehicle Insurance Background Check Conducted?

June 26, 2022
In India, the Finest Crossover Cars And Their Insurance Rates

In India, the Finest Crossover Cars And Their Insurance Rates

June 25, 2022
The Regional Transport Office’s Function

The Regional Transport Office’s Function

June 24, 2022
How Can I Easily Find Car Insurance Information Using My Registration Number?

How Can I Easily Find Car Insurance Information Using My Registration Number?

June 23, 2022
Next Post
Alabama Auto Shop Owners Design Anti-Theft Cages for Catalytic Converters

Alabama Auto Shop Owners Design Anti-Theft Cages for Catalytic Converters

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR

Fast Fix: How to Defog Your Windshield

Fast Fix: How to Defog Your Windshield

June 11, 2022
In India, how much does your car insurance policy cost?

In India, how much does your car insurance policy cost?

June 16, 2022
Should You Add Your Teenage Driver to Your Car Insurance Policy?

Should You Add Your Teenage Driver to Your Car Insurance Policy?

May 24, 2022

ads2

MORE ON TWITTER

Comprehensive Car Insurance

Mick Market car insurance blog is a portal for useful car insurance tips and articles that can help you get the most out of your policy.

  • About us
  • Contact
  • Privacy Policy

© 2022 mikcmarket.com - All rights reserved

No Result
View All Result
  • Home
  • News
  • Forums
  • Insurance Blogs
  • Tips & Guides
  • About us
  • Contact

© 2022 mikcmarket.com - All rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • English