Context
Motorists are continuing to benefit from the fewer motor claims arising during the Covid lockdowns. The average price motorists are paying for their insurance continues to fall according to the ABI’s latest Motor Insurance Premium Tracker.
Key points to note
- Cost of motor insurance falls by nearly £40 so far in 2021, down 7% over the last year.
- The average price paid for comprehensive motor insurance in quarter 3 this year was £429, remaining at its lowest level in over five years (since Q1, 2016).
- The average premium paid in quarter 3 fell by 7% on the same quarter, 2020.
Next actions
None – for information and awareness.