The average annual price people will pay on their motor insurance has increased in the second quarter of this year.
The Association of British Insurers (ABI) revealed that the typical price for private motor insurance has increased exponentially to £419 - an increase of £5. It also noted that insurers are struggling to cope with the pressures of rising costs.
Despite the rise in price, the latest figure is still £11 lower than it was this time last year. Furthermore, the average premium paid for a new policy in the second quarter was £129 higher than for a renewed policy.
