Motor premium prices drop 3% in Q2 – ABI
Average motor insurance premiums fell by 3% in the second quarter, taking the annual drop to 9.6%, according to the Association of British Insurers.
The declines were in line with previous research by Confused/WTW which also recorded a 3% drop, in that instance in the three months to June, and a 16% year-on-year reduction.
The ABI uses policies sold rather than quotes, which will also have contributed to the slight discrepancy.
With the cost of cover still weighing on household finances, we must not lose momentum in tackling the persistent pressures driving up claims.
The trade body detailed that its premium tracker measured the average price
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