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UK motor insurance premiums down 17% on lower claims; inner London and 17-18s see biggest falls; EV costs and legislative uncertainty temper 2025 outlook

Published on: 26 March 2025

Published by a Law360 reporter
Legal News
Article summary

Motorists are currently paying £164 less than in 2024, when the average premium was £941, based on the newest figures released alongside price comparison website Confused.com. According to the report, this represents the largest year-on-year percentage fall since 2014 and continues the downward movement in rates that started in the first quarter of 2024. Tim Rourke at WTW noted that insurers have been able to recalibrate pricing and pass on savings to policyholders because claim frequencies were lower in the first quarter of 2025, coupled with reductions in average repair damage costs. Prices have trended lower since early 2024...

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