WTW/Confused: 12-month motor premium rise the highest since records began
Comprehensive car insurance premiums have risen by a record 40% (£222) during the last 12 months, with UK motorists now paying £776 on average, according to the latest Confused Car Insurance Price Index in association with WTW.
Indeed, car insurance premiums are at their highest ever recorded levels since the WTW/Confused Car Insurance Price Index was launched in 2006. The previous peak was 12 years ago in the second quarter of 2011, when the average premium was £663.
At 40%, the annual rise in motor insurance costs continues to outstrip CPI inflation, held at 8.7% in May.
Car insurance premiums have also increased for seven straight quarters following a price rise of 18% (£119) in the second quarter of 2023.
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