The average price paid by motorists for an annual comprehensive motor insurance policy rose by 2.1% in the second quarter of 2015 compared with the previous quarter, according to figures from the Association of British Insurers.
The ABI’s Quarterly Average Private Comprehensive Motor Insurance Premium Tracker shows an average premium of £367 for the three months of April, May and June, up from £359.
The year-on-year increase compared with the second quarter of 2014, when the average premium was £356, is 2.9%.
Average premiums remain lower than they were in the second quarter of 2013 (£377) when the Government introduced reforms to the civil justice system including a reduction in fixed legal fees for personal injury claims. Since those reforms were introduced, insurers have passed £1.1billion of savings onto motorists.
Data from the Claims Portal shows the number of personal injury claims related to road accidents was 12% higher for the year ending April 2015 compared with the previous 12 months.
