Car insurance 'rip off' as prices rise by a third in one year

MOTOR insurance cost £157 more in the first quarter of 2024 than a year earlier.

- Emily Braeger Consumer Editor

The typical price for a comprehensive policy was up by a third at £635, the Association of British Insurers said.

But a 1% rise from the last quarter indicated price rises were easing off.

It said insurers are continuing to absorb growing costs, with the average claim rising 8% to reach a record £4,800.

The costs of repairs, replacement vehicles and thefts continue to rise.