Motor insurance premiums not yet hit by impact of floods
The June floods had little effect on motor insurance premiums in the direct market during quarter three, according Experian, the global information solutions company.
Experian’s latest Motor Insurance Benchmark has revealed that the average quote for comprehensive cover in the direct market reached £567.30 during quarter three (July, August and September), but it was only 0.8% higher than the average quote in quarter two (£562.70) despite the recent floods.
The broker market, however, saw a large increase in the average premium rate compared to the previous quarter for both comprehensive and third party, fire and theft. Insurance premiums shot up in July
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