May 7, 2021

Knews

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In five years, the average cost of motor insurance will go down to lower levels

In the first three months of this year, insurance premiums fell sharply, lowering the average price paid for coverage for the last five years.

Average price paid The first three months of 2021 have fallen by 32 pounds compared to the last three months of 2020.

This was the quarterly record of the British Insurance Association’s records.

He said some of the failures were partly due to the fact that some of the claims made during the lockout were cost-effective insurance for young drivers who had to pay high motor fees on the road due to the restrictions on driving attempts.

Despite rising insurance costs, insurers are facing additional costs.

The average price paid for total motor insurance in the first quarter of this year was 6,436 – the lowest level since 2016.

ABI Motor insurance premium tracking costs more than the cost of coverage.

In the first quarter of 2021, the average wage was 8 percent lower than a year earlier.

ABI General Manager Laura Hughes said: Competitive Motor Insurance Market.

Over the next few months, we will return to normal driving patterns and see significant growth in the motor market, which will be eased by the end of May. The claims process is ensuring fair compensation for real applicants.

While there are still costs involved in increasing maintenance costs, the market remains competitive, enabling drivers to make the best deal.

The new injury claim gateway aims to control the high costs associated with stroke claims in a simple and transparent manner while ensuring balanced compensation.

Supports undocumented applicants for soft tissue damage following road traffic accidents. If the claimants want to, they will be allowed to have legal representation to support the claim through the door, ABI said.

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