Motor premiums drop 8.4% year-on-year

cars

Car insurance premiums have plummeted 8.4% in the last 12 months, according to data analysis from Consumer Intelligence, which revealed that the average policy now costs £779 and the average motor premium is priced at £732.

The business detailed that the industry is witnessing a downward trend for premiums across the board, in all age and regional segments.

Causes
It added that there are several reasons for falling premiums, spanning from an uptick to telematics quotes to the FCA’s pricing

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