UK automobile insurance coverage costs have risen a fifth up to now yr and are actually at their highest since 2011, as insurers demand increased premiums to deal with surging inflation in the price of claims.
The common coverage now stands at £657, in keeping with first-quarter figures from comparability web site Confused.com, in partnership with insurance coverage dealer Willis Towers Watson. The index is predicated on quotes supplied by insurers.
Younger drivers are being hit with particularly excessive will increase, with 17-year-olds having to pay £446 greater than they did a yr earlier, taking a typical annual coverage for this cohort to £1,612.
“For drivers who’ve purchased insurance policies already this yr, the spike in prices might need come as fairly a shock,” mentioned Confused.com’s Louise Thomas.