Car premiums increase by 16%

By April 11, 2017Uncategorized

Confused.com figures show that the discount rate cut played a key part in the rise of premium costs.

The cost of comprehensive car insurance has continued to spiral during the first quarter of 2017 with motorists facing an average premium of £781.

The figures, which came from the latest Confused.com Car Insurance Price Index in association with Willis Towers Watson, said comprehensive car insurance prices rose 16%, or £110, more than they were this time last year.

According to the research, which is based on price data compiled from almost two million customer quotes, the benefits of a 1.8% month on month decrease in January was swiftly cancelled out by a 3.5% rise this March.