 |
|
 |  |  |  |
Downhill drive – large quarterly drop sees the cost of motor insurance fall to a two-year low |
The average cost of motor insurance has fallen to its lowest level for two years - £466 - according to the ABI’s latest Motor Insurance Premium Tracker out today. The Tracker is the only survey that looks at the price consumers pay for their cover, rather than prices quoted.  Today’s figures reveal that:
The average price paid for motor insurance in the first quarter of the year was £466, the lowest quarterly figure since Q1, 2017.
The average premium fell by £15 on the previous quarter and was the largest quarter on quarter fall since 2013. This was the fourth consecutive quarter year- on-year premium decrease.
Reasons for this significant fall are likely to be some insurers passing on expected cost savings in anticipation of the reforms of the Civil Liability Act, which will deliver a fairer compensation system for claimants, and continued competitive premiums for motorists. Also, new vehicle registrations in March saw a rise in new cars purchased, typically by more mature, lower risk drivers.
Mark Shepherd, ABI’s Assistant Director, Head of General Insurance Policy, said: “The falling cost of motor insurance is great news for motorists after several years of rising premiums, which largely reflected the UK’s costly personal injury compensation system. As the industry promised, motorists are now beginning to see the benefits of the personal injury reforms recently enacted. “However, some cost pressures remain, with rising repair costs, and the Government needing to resist any temptation to further increase Insurance Premium Tax. So motorists should continue to make the most from a competitive market by shopping around for the best deal for their needs.” |
|
|
|
| Senior Pensions Trustee Actuarial Con... | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Shape the future of the pensions in... | ||
| UK Flex / hybrid 2dpw office-based - Negotiable | ||
| Challenge the pensions industry! | ||
| UK Flex / hybrid 2dpw office-based - Negotiable | ||
| Actuarial Pricing Manager - Non-life | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| Senior Pricing Actuary | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| GI Actuarial Senior Manager | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| BPA Implementation Manager | ||
| North / hybrid working 50/50 - Negotiable | ||
| Head of Reserving | ||
| City of London - £150,000 Per Annum | ||
| PRT or BPA Specialist | ||
| Nationwide offices / hybrid working - Negotiable | ||
| Retirement Consultant | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
| GI Associate Actuarial Director | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| GI Actuarial Senior Manager | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| Actuarial Manager - GI/Risk | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| Insurance Risk Manager | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
| Financial Risk Leader - ALM Oversight | ||
| Flex / hybrid - Negotiable | ||
| Financial Risk Leader | ||
| Flex / hybrid - Negotiable | ||
| Take the lead on actuarial financial ... | ||
| Flex / hybrid - Negotiable | ||
| With-Profits and Investment Risk Expert | ||
| Flex / hybrid - Negotiable | ||
| Reinsurance Actuary | ||
| London/Hybrid - Negotiable | ||
| CONTRACT (12 months): Underwriter | ||
| Fully remote - Negotiable | ||
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.
Copyright © 2025 Actuarial Post. Created by Zero-One Design Ltd
