According to the Association of British Insurers (ABI), motor insurance claims have risen to the highest levels since records began. For the year 2017, the total amount paid out by the industry in claims was approximately £8 billion.
The average claim is now around £2930, and this increase has been blamed on a number of factors. To begin with, there has been a rise in the cost of vehicle repairs, due to the increasing complexity of modern vehicles. There has also been an increase in the cost of theft and personal injury claims.
To find out more about the large increase in the value of insurance claims, click on any of the following links to the ABI and BIBA websites.
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