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Record high motor insurance rates in the UK

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Magazine Issue: 
Reinsurance, a chair for two [3]
Magazine date: 
Jan 2024

Car insurance UKA recent report published by insurance aggregator Confused.com, in partnership with WTW, indicates that motor insurance rates have hit an all-time high in 2023.

British motorists are facing a 58% increase in their average annual premium to 995 GBP (1 267 USD).

The biggest rate increase is observed in London.

Drivers aged between 17 and 20 are still paying the highest premiums. Meanwhile, those aged 43 and under are now paying an average of over 1 000 GBP (1 273 USD) for a motor policy.

Read also | Motor insurance rates continue to rise in the UK as inflation soars [4]

Tue, 16/01/2024 - 17:11

Source URL: https://www.atlas-mag.net/en/category/pays/royaume-uni/record-high-motor-insurance-rates-in-the-uk

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