Context
The average price motorists paid for their motor insurance in 2020 was at a four year low according to the ABI’s latest Motor Insurance Premium Tracker which looks at the price consumers pay for their cover, rather than the quoted price.
Key points to note
- The average price paid for comprehensive motor insurance in 2020 was £465. This was down 1% on 2019, standing at its lowest level since 2016.
- The average premium paid in quarter 4, 2020, at £468, was down 3% on the same quarter 2019, although, reflecting the seasonal trend, this was up 2% on quarter 3, 2020.