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ABI average motor insurance premium tracker Q1 2016 data

The key findings from the ABI's average comprehensive motor insurance premium tracker Q1 2016 statistics include:

  • The average private car comprehensive motor insurance premium rose to £429 in Q1 2016, a 1% increase on the previous quarter and a 10% year-on-year rise from Q1 2015. This is the first quarter that the 9.5% Insurance Premium Tax (IPT) rate has been in effect for the full three months.
  • The Q1 2016 value of £429 is the highest average premium since Q4 2012.
  • The average premium rose by £2 compared to Q4 2015, this is the first time premiums have risen from Q4 to Q1 since the ABI started publishing the Quarterly Tracker. This increase reflects renewed cost pressures on unprecedented pressure on premiums, such as higher Government imposed taxes.

Detailed statistics on motor insurance and the rest of the insurance industry are available to purchase.

ABI members and stats subscribers can view the data in our our industry data section.

Last updated 01/07/2016