Motor insurers are facing pressures from rising costs and supply chain challenges, which may also mean some drivers waiting for longer for vehicle repairs.
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Motor insurance price falls to the lowest level since 2015
The amount paid by motorists for insurance fell to its lowest level in more than six years in the first quarter of 2022, according to the Association of British Insurers (ABI).
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Insurance reforms have seen rapid acceleration in price of car premiums
The cost of car insurance is rapidly increasing following the introduction of reforms designed to stop the exploitation of repeat customers.
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Car insurance costs up for older drivers and in some parts of UK, figures show
Typical car insurance premiums started to rise for some age groups and in some parts of Britain towards the end of last year, analysis has found.
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Insurance renewals can no longer be more expensive than deals for new customers
From tomorrow, insurers will no longer be able to charge existing customers more to renew than they would charge new customers.
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Cost of car insurance fell by 9.4% in year to August
The average motor insurance premium plunged by 9.4% over the year to August, according to analysis.
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Higher insurance premiums for loyal customers banned by regulator
New rules are to be introduced to stop car and home insurers from imposing so-called loyalty penalties on customers, the financial watchdog has announced.
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Waiting until last day to switch car insurance ‘can ramp up cost of policy’
Motorists could typically save more than £300 by switching their car insurance three weeks before their existing policy is due to end, rather than waiting until the last day, analysis suggests.
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Car insurance myths could see millions of drivers risk fines
Drivers across the UK could be risking fines, points on their licence or higher premiums by falling for car insurance myths, according to new research.
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Average car insurance premium increases to £809
The average price of car insurance premiums has risen by around £47 per year to £809, according to data from Confused.com.
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More than 500 ‘ghost broker’ scam insurance firms shut down
Direct Line says it has taken action to have 500 “ghost brokers” – unregistered firms claiming to sell insurance – shut down.
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Vaping drivers could be fined and see insurers refuse to pay out over crashes
Drivers who vape at the wheel could land themselves in trouble with the law and risk having insurance claims rejected, according to safety experts and insurance brokers.
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Thefts of premium cars have doubled in 5 years
The number of high-end cars stolen across the UK has more than doubled in the last five years.
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Car Insurance Companies Payout every 8 minutes with car crime continues to rise in 2019
Figures released by the Association of British Insurers (ABI) show that the number of motor theft claims paid by insurers in the first quarter of this year were at their highest for any quarter since 2012, with a payment made to a car crime victim every 8 minutes.
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Half of drivers think it should be illegal for insurers to overcharge loyal customers
A study by GoCompare found 61% of motorist feel insurers reserve the best prices for new customers at the expense of loyal policyholders.
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Insurers paid out £1m a day in vehicle theft payouts
A surge in vehicle thefts, including keyless car crime, has led to motor insurers paying out a record £1 million every day according to figures published by the Association of British Insurers.
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New insurance rules could make motorsport illegal
Motorsport could be made illegal across Europe thanks to a new car insurance directive.
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Car insurance regulator launches pricing investigation
The UK’s financial regulator has confirmed that it will investigate the way in which firms charge their customers for home and motor insurance.
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Young drivers motoring costs hit ‘worryingly high’ levels
The cost of motoring for young drivers has risen to more than £2,400 a year, thanks to rising insurance and fuel prices. (more…)