The average motor insurance premium fell by 2% in July to September to £612, according to the latest data from the Association of British Insurers, the second consecutive quarterly drop.
The price of premiums fell 2% in Q2 having kicked off 2024 with a 1% rise.
Despite the latest reduction the average cost of motor insurance was £50 (9%) higher than the same period in 2023 due to strong hikes at the end of that year.
As part of this, we’re committed to playing our part in supporting the government’s task force, and we look forward to bringing our ideas and expertise to the table, contributing to this initiative on behalf of our members.
The figures mirror the direction of travel
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People Moves: 4 – 8 November 2024
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