UK car insurance costs hit a new record high of £635 in Q1 2024, increasing by 1% (ABI).
Car insurance costs in the UK hit a new record high of £635 in Q1 2024, a 1% rise from the previous quarter, according to the Association of British Insurers (ABI). Although costs continue to increase, the ABI says insurers are absorbing these growing costs, with the average claim paid rising 8% to £4,800. The ABI's Motor Insurance Tracker analyzes nearly 28 million policies sold annually.
April 28, 2024
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