Car insurance premiums in the UK have risen 8% in the past year to the highest level since at least 2012, according to ABI (the Association of British Insurers) The the Association of British Insurers attributes the £34 annual increase to higher taxes and whiplash claims. Average premiums are now £462, the most since the the Association of British Insurers began collecting the data, and will rise again as the government plans to lift the insurance premium tax to 12% from 10%, the fourth rise in two years. Price comparison websites say the increase in premium costs has been even greater, with Confused.com putting the figure at 16%.
Car insurance premiums in the UK have risen 8% in the past year to the highest level since at least 2012, according to the Association of British Insurers (ABI) The ABI attributes the £34 annual increase to higher taxes and whiplash claims. Average premiums are now £462, the most since the ABI began collecting the data, and will rise again as the government plans to lift the insurance premium tax to 12% from 10%, the fourth rise in two years. Price comparison websites say the increase in premium costs has been even greater, with Confused.com putting the figure at 16%.