Car insurance premiums start to FALL - but are still up 48% in two years
7 months, 3 weeks ago

Car insurance premiums start to FALL - but are still up 48% in two years

Daily Mail  

Car insurance premiums are showing signs of falling - but still remain at near-record highs. Slight dip: Car insurance costs have fallen, but are still much higher than a year ago It costs 48 per cent more to insure the average car now than two years ago, when the typical premium was £430. The ABI's car insurance figures are the most accurate, as they are based on actual premiums paid, whereas many other indices use premium quotes instead. However, critics say these premium hikes defy the fact that the single biggest thing that car insurance premiums pay for - bodily injury claims - are falling. ABI director of general insurance policy Mervyn Skeet said: 'After a very challenging period for insurers and customers alike, we’re encouraged to see an easing of increases to motor insurance premiums as claims costs stabilise.

Costs Claims Two Years Premiums Insurers Car Insurance Car Insurance Premiums Claims Costs  costs  cent  fall  motor  premiums  48  insurers  car  insurance  paid  start  claims  higher

History of this topic

The car insurers who drag their heels processing claims REVEALED: Are you covered by one of the slowest?
1 month, 3 weeks ago

The car insurers who drag their heels processing claims REVEALED: Are you covered by one of the slowest?

Daily Mail  

Some car insurers are woefully slow when it comes to claims, new research shows. A survey of over 4,700 car insurance claimants found around a third of the 19 firms rated were awarded just two stars out of five for how fast they dealt with claims Car insurers are generally more reliable than other sectors for accepting customer claims. NFU …

Car insurance costs drop £221 in a year: We reveal which drivers are seeing the biggest falls
1 month, 3 weeks ago

Car insurance costs drop £221 in a year: We reveal which drivers are seeing the biggest falls

Daily Mail  

The typical cost of car insurance has fallen by £221 annual new data shows. The average cost of car insurance has fallen by £221 year-on-year, new research from Compare the Market shows Young drivers have come out on top with the decline in premiums, seeing the largest fall in their insurance costs of any age group, while older drivers have …

Car insurance premiums saw record fall in 2024 - with young drivers enjoying biggest cuts
2 months, 2 weeks ago

Car insurance premiums saw record fall in 2024 - with young drivers enjoying biggest cuts

Daily Mail  

Car insurance prices dropped a record amount at the end of 2024 as competition in the industry started to heat up again, according to new data. Pearson Ham Group’s latest General Insurance Price Index shows that car insurance premiums fell 5.5 per cent during the fourth quarter of 2024, bringing the total reduction in the second half of the year …

Drivers set for £50 car insurance saving next year, experts predict
3 months, 3 weeks ago

Drivers set for £50 car insurance saving next year, experts predict

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The cost of motor insurance could see a substantial drop …

Car insurance premiums nudge lower... but are still up 40% in two years
4 months, 2 weeks ago

Car insurance premiums nudge lower... but are still up 40% in two years

Daily Mail  

Car insurance premiums fell 2 per cent between July and September 2024, with the average driver now paying £612 a year for cover. It all adds up: The high cost of car insurance adds to the pain felt by overall rising bills In total, insurers paid out £2.9billion in motor insurance claims in Q3 2024 – up 14 per cent …

Average cost of motor cover £50 higher than a year earlier
4 months, 2 weeks ago

Average cost of motor cover £50 higher than a year earlier

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The average price paid for …

Government orders probe as car insurance premiums rise by a fifth in TWO years
5 months, 1 week ago

Government orders probe as car insurance premiums rise by a fifth in TWO years

Daily Mail  

The Government has demanded answers to why the cost of car insurance has risen by 21 per cent in the past two years. When it rains: Transport secretary Louise Haigh wants to know why car cover costs have risen It comes as motor insurance premiums have grown by an average of 21 per cent since June 2022, according to Financial …

Insuring your home costs a FIFTH more than last year - with insurers blaming bad weather for £400 bills
7 months, 2 weeks ago

Insuring your home costs a FIFTH more than last year - with insurers blaming bad weather for £400 bills

Daily Mail  

Home insurance costs have risen 20 per cent in a year, with insurers blaming bad weather for a spike in claims payouts. Upwards rise: Home insurance costs are increasing steadily, with larger payouts to blame The average buildings-only home insurance policy cost £321 in Q2 2024, a rise of 7 per cent from the previous quarter. Subsidence payouts for home …

About to renew your car insurance? These tips can help you compare insurers and save
9 months, 1 week ago

About to renew your car insurance? These tips can help you compare insurers and save

ABC  

If your car insurance policy is due for renewal soon, it could be an opportunity to shop around. Customers 'duped': Lawsuit claims insurance giant inflated premiums Photo shows Kerry Reece and her husband Brendan sit at the kitchen table looking at insurance bills Kerry Reece has been loyal to her insurer for decades, but a new class action claims her …

Surging auto insurance rates squeeze drivers, fuel inflation
10 months, 1 week ago

Surging auto insurance rates squeeze drivers, fuel inflation

LA Times  

Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation. Auto insurance rates rose 2.6% in March and are up 22% from a year ago. But auto insurance and car ownership costs have become a sticking point for consumers and the Federal Reserve in its battle to rein inflation back to its goal of 2%. “A fender bender …

Car insurance costs hit new average record high of £635 - but hikes may be starting to slow
11 months ago

Car insurance costs hit new average record high of £635 - but hikes may be starting to slow

Daily Mail  

Long-suffering motorists faced another car insurance premium hike this year, with the average driver now paying a record £635 for cover. Insurers said that claims costs, thefts and repair prices were behind high car insurance premiums. On the line: Drivers are being squeezed by rises in car insurance they have no way of avoiding ABI director of general insurance policy …

Surging auto insurance rates squeeze drivers, fuel inflation
11 months ago

Surging auto insurance rates squeeze drivers, fuel inflation

Associated Press  

NEW YORK — Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation. But auto insurance and car ownership costs have become a sticking point for consumers and the Federal Reserve in its battle to rein inflation back to its goal of 2%. “The severity is really the thing that has influenced rates more over the last two …

Surging auto insurance rates squeeze drivers, fuel inflation
11 months ago

Surging auto insurance rates squeeze drivers, fuel inflation

Associated Press  

NEW YORK — Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation. But auto insurance and car ownership costs have become a sticking point for consumers and the Federal Reserve in its battle to rein inflation back to its goal of 2%. “The severity is really the thing that has influenced rates more over the last two …

Inflation: Car insurance is the culprit. So are bad drivers.
11 months, 1 week ago

Inflation: Car insurance is the culprit. So are bad drivers.

Slate  

Well, if you were hoping inflation would shrink down to the Federal Reserve’s preferred threshold of 2 percent, you are out of luck. But, according to the Bureau of Labor Statistics’ latest Consumer Price Index report, overall year-over-year price increases amounted to 3.5 percent in March, marking a small uptick from February’s measurement. When it comes to the Department of …

Revealed: Where in the UK car insurance quotes have increased the most
11 months, 2 weeks ago

Revealed: Where in the UK car insurance quotes have increased the most

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Reducing insurance woes for electric vehicle users
11 months, 3 weeks ago

Reducing insurance woes for electric vehicle users

China Daily  

People look at an electric vehicle of Zeekr at the Swedish eCarExpo 2024 in Stockholm, Sweden, on Feb 2, 2024. The insurance premiums for electric vehicles, already much higher than those for traditional vehicles, are reportedly rising continuously. Under the prerequisite of protecting user privacy, it is possible to share driving behavior data to innovate and improve risk assessment models …

'Everything is rising at a scary rate': Why car and home insurance costs are surging
1 year ago

'Everything is rising at a scary rate': Why car and home insurance costs are surging

NPR  

'Everything is rising at a scary rate': Why car and home insurance costs are surging Enlarge this image toggle caption Courtesy of Ezra Croft Courtesy of Ezra Croft Ezra Croft has never filed an insurance claim, and his house in Raleigh, North Carolina isn't close to a stormy coastline or a fire-prone forest. "While a lot of these storms don't …

Drivers can cut insurance premiums by £745 with one year of no-claims discount
1 year, 1 month ago

Drivers can cut insurance premiums by £745 with one year of no-claims discount

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Drivers can slash the cost …

Average car insurance cost in UK soars to record high
1 year, 2 months ago

Average car insurance cost in UK soars to record high

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The average cost of car insurance in the UK has …

Will the cost of car insurance keep rising in 2024?
1 year, 3 months ago

Will the cost of car insurance keep rising in 2024?

Daily Mail  

Drivers face paying record high prices for car insurance premiums - and unfortunately 2024 does not look likely to bring any respite, with rises of up to 10 per cent predicted. Car insurance premiums rose 29 per cent in the year to November, reaching a record average high of £561. Driven up: Car insurance premiums are rising, and drivers may …

Record spike in insurance firms ripping off drivers over value of their car
1 year, 6 months ago

Record spike in insurance firms ripping off drivers over value of their car

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We are monitoring closely how firms are settling claims and …

Home insurers record a jump in subsidence payouts as volume of claims rises
1 year, 6 months ago

Home insurers record a jump in subsidence payouts as volume of claims rises

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Subsidence claims were partly behind …

Record £2.5bn in motor claims was paid out between April and June, says ABI
1 year, 6 months ago

Record £2.5bn in motor claims was paid out between April and June, says ABI

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A record £2.5 billion in motor claims was paid out …

How to get the best car insurance deal - experts weigh in
1 year, 7 months ago

How to get the best car insurance deal - experts weigh in

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Experts have given their best tips on how to reduce …

The great car insurance con: Premiums soar to record high as prices hiked 50% in a year
1 year, 7 months ago

The great car insurance con: Premiums soar to record high as prices hiked 50% in a year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Car insurance premiums have rocketed …

Rocketing car insurance risks leaving us all stranded
1 year, 7 months ago

Rocketing car insurance risks leaving us all stranded

The Independent  

Even by the standards of our inflationary times, the hikes to car insurance premiums seem remarkable, excessive and grossly unfair. Some blame the rise in the cost of car insurance on the “loyalty penalty” that was banned at the start of 2022. The premium shocks people are routinely exposed to – and the virtual absence of affordable car insurance for …

Why are Car Insurance Premiums Increasing? | Chola MS
1 year, 11 months ago

Why are Car Insurance Premiums Increasing? | Chola MS

The Quint  

In conclusion, car insurance premiums are increasing due to a variety of factors, including the rising number of accidents, expensive repairs, increasing medical costs, distracted driving, climate change, insurance fraud, higher cost of litigation, ageing population, increased car theft, increased frequency of severe weather, and increasing repair costs for electric and hybrid cars. At Cholamandalam Car Insurance, we take pride …

Save money on car insurance
3 years, 1 month ago

Save money on car insurance

Daily Mail  

* Affiliate links: If you take out a product This is Money may earn a commission. Car insurance costs for the five most popular car makes surge almost 50% in a year EXCLUSIVE: Figures from Compare the Market showed the average cost of insuring a Volkswagen last month was £920. Cost of car insurance rocketed 25% last year and figures …

Making a home insurance claim ‘can drive up policy costs by more than 50%’
3 years, 2 months ago

Making a home insurance claim ‘can drive up policy costs by more than 50%’

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Home insurance …

How drivers could save an average £300 on insurance premiums
3 years, 4 months ago

How drivers could save an average £300 on insurance premiums

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Compare home insurance, car insurance and travel insurance
4 years, 4 months ago

Compare home insurance, car insurance and travel insurance

Daily Mail  

Also try Direct Line that does not appear on comparison sites and if you have previous serious medical issues consider a specialist insurer or broker. and beat the renewal hikes that can see some policyholders paying 400% more for the SAME cover Insurers admit that the only way is up for car and home insurance premiums this year. Home insurance …

Decoding hike in motor insurance premium
5 years, 9 months ago

Decoding hike in motor insurance premium

Live Mint  

Mumbai: The Insurance Regulatory Development Authority of India has proposed to hike insurance premiums of two-wheelers and private cars purchased before 1 September. The proposed long-term three year premium for new private cars and five-year premiums of two wheelers remain the same. The three-year premium for new private cars below 1,000 cc is ₹5,286, for cars between 1,000 cc and …

Direct Line's stunning results explain why your insurance premiums are so high
7 years, 1 month ago

Direct Line's stunning results explain why your insurance premiums are so high

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Direct Line reported a 3.6 per cent rise in …

UK consumers face record high car insurance premiums as prices soar 11% in one year
7 years, 8 months ago

UK consumers face record high car insurance premiums as prices soar 11% in one year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK consumers are facing record …

British car insurers suffered losses of £3.5bn in 2016 due to new compensation rules
7 years, 9 months ago

British car insurers suffered losses of £3.5bn in 2016 due to new compensation rules

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy British car insurers were hit …

Car insurance premium bills are at record highs but insurers don't want us to know the real reason why
7 years, 11 months ago

Car insurance premium bills are at record highs but insurers don't want us to know the real reason why

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy With figures showing car insurance …

Hiking vehicle, health insurance premium rate could blight further insurance awareness and penetration
7 years, 11 months ago

Hiking vehicle, health insurance premium rate could blight further insurance awareness and penetration

Firstpost  

The insurance claim ratio is only 6-7 percent for two-wheelers whereas it is 20-30 percent for cars. And born of this confidence, insurance awareness is very low among two-wheeler owners many of whom do not renew their vehicle insurance after the first premium secure in the smug knowledge that no misfortune is going to befall even though the law obliges …

UK drivers to pay average of £1k for car insurance by 2018
8 years ago

UK drivers to pay average of £1k for car insurance by 2018

Daily Mail  

Car owners, look away now - one industry insider has warned that the average motor premium could rise to over £1,000 next year. The worrying prediction was made Confused.com, which estimates that premiums will creep up from the current £767 average due to hikes in insurance premium tax in June and changes to the personal injury discount rate. A grand …

Car insurance premiums soar by 40%
13 years, 11 months ago

Car insurance premiums soar by 40%

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

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