Record rise in car insurance premiums, says ABI
Motorists are being saddled with the fastest year-on-year rise in insurance premiums since records began five years ago, the industry has warned.
Average car insurance premiums have gone up by 11% in the past year, according to the Association of British Insurers (ABI). The typical bill for an annual policy is now £484, it said.
Earlier this month, the ABI said car insurance premiums hit a record high in 2016.
The news could put further pressure on the government to change its decision to reduce the so-called discount rate, which increased the size of insurance pay-outs.