Tuesday, February 2, 2016

UK automobile insurance premiums rise eight % in 2015



UK automobile insurance premiums rose seven % within the half-moon of 2015 compared with the previous quarter and eight % over 2015, with an increase in payment tax fuelling a number of the gains, the Association of British Insurers aforementioned on Monday.

The tax rose to nine.5 % from half dozen % throughout the quarter, pushing the common worth procured personal automobile comprehensive motor insurance to 430 pounds ($614.26), the ABI aforementioned during a statement.

"The rise within the overall price of lower price personal injury claims, not to mention the government's rise within the rate of payment tax introduced last Gregorian calendar month, has diode to rising average motor insurance premiums," the ABI aforementioned.

The survey follows recent quarterly reports from Confused.com and recovery service AA, that additionally showed sharp rises in premiums.

UK motor insurers embrace FTSE firms Admiral, Direct Line, esure and Hastings.

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