According to the Association of British Insurers, premiums paid by motorists for insuring their vehicles has gone up by as much as 9 percent in 2017. This is the highest rise in premiums since the ABI began monitoring premiums in 2012.
The rise in premiums has been blamed on the recent changes to the discount rate, and an increase in the Insurance Premium Tax. Also contributing to the increases are a rise in the number of claims relating to whiplash and the fact that vehicle repair bills are becoming bigger.
The following link highlights the recent increases in insurance premiums and the effect they are having, including a look at the car insurance industry in 2018.
Leave A Comment