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Motorists continue to pay less for comprehensive motor insurance

UK motorists are continuing to get the best deals from a competitive motor insurance market, according to the ABI’s latest quarterly average private comprehensive motor insurance premium tracker.

The tracker, which reflects what motorists are actually paying each quarter for comprehensive motor insurance, shows that in the first quarter of 2014 the average private comprehensive motor insurance premium fell by 3% on the previous quarter to £358 – this equates to just under £30 a month, and less than the average monthly subscription to many sports and entertainment TV packages.

Since the first quarter 2012 the average comprehensive premium paid has fallen by 14%.

James Dalton, the ABI’s Head of Motor Insurance, said:

"The fall in average comprehensive motor premiums reflects the commitment of insurers to pass on the savings from reforms to the civil litigation system last year to hard-pressed motorists, even when savings have yet to fully materialise.

"Keeping a lid on cost pressures, such as fraudulent whiplash claims and claimant lawyers’ excessive costs, is essential to ensure that UK motorists continue to get the best motor insurance deal."

More information is available in our industry data section.

Last updated 01/07/2016