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Originally Posted by xenon
Really not looking forward to renewal having read all this. £370 last year...
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According to the Insurance Business, the average increase is +19% over last year.
https://www.insurancebusinessmag.com...se-433976.aspx
I've just had my next year's quote with BMW Car insurance and their increase is stated as 19.12% over last year.
ABI Explain the reason for the increases.
https://www.abi.org.uk/news/news-art...tor-insurance/
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Rising costs for insurers continue
Examples of increasing cost pressures cited by some ABI members include:
Energy inflation adding £71.75 to each repair.
Average paint and material costs have increased by nearly 16%.
Comparing 2022-Q3 with 2021-Q3 the average paint cost on repair has increased by 20%.
An estimated 40% of all work is now being affected in some way by parts delays.
Courtesy car costs to repairers are increasing at around 30%.
In addition, the average price of second-hand cars increased by 19% in the year ending July 2022, (source: Auto Trader)
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