Car insurance prices skyrocket by 32 percent since 2022, with ABI working to lower costs

The ABI’s Director of General Insurance Policy, Mervyn Skeet, said: “We’re acutely aware of the impact that rising motor insurance premiums continue to have on motorists.

“Rising repair costs and other factors outside of insurers’ control mean there is no single action that could bring down premiums. However, we are determined to do all we can to put the brake on.

“We are working with our members to understand what actions can be taken to help motorists manage costs.”