A confused.com report in association with WTW
We are pleased to bring you the fourth quarter 2022 edition of the Confused.com Car Insurance Price Index in association with WTW.
As of the end of 2022, car insurance premiums have risen at the fastest annual rate since mid-2016 (when they topped 19%).
Most of that increase occurred in the second half of the year as the effects of general economic inflation on parts and labour costs really took hold, exacerbating the pre-existing cost pressures in the motor insurance market. These include supply chain shortages and delays and, importantly, the significant increase in used car prices that has occurred over a sustained period but accelerated over the last two years.
The latest headlines include:
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18.8% Total price rise during 2022.
£629 Average uk premium has increased by £100 during the year.
A subscription service is available, disclosing the results of this analysis for comprehensive motor insurance at a much more granular level and on a monthly basis, thereby providing a deep insight into market price movements.
If would like to know more about the monthly index subscription service and how to subscribe, please email Anneliese Bedwell.
