
For the fourth quarter in a row complete automotive insurance coverage premiums have dropped in value, in accordance with the most recent Confused and WTW analysis.
The typical premium fell by 3% to £834 within the fourth quarter of 2024, taking the drop for the 12 months to 16%. That is the largest annual proportion lower since 2014, in accordance with the automotive insurance coverage value index.
Between July and September 2024 premiums had declined by 2% following on from shrinking 6% in Q2 and 5% within the first three months of the 12 months.
New coverage costs have been reducing steadily for 12 months, and we’re now seeing a big shift in costs in comparison with final 12 months.
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