The Association of British Insurers (ABI) has announced that the amount paid by motorists for insurance fell to its lowest level in more than six years in the first quarter of 2022.
Prices for new policies have increased, however, renewals have decreased after an insurance shake-up at the start of this year and the ABI said the latest average premium is the lowest since the third quarter of 2015.
The average price paid for comprehensive motor insurance in the first quarter of the year was £416, a five per cent drop over the year compared with the first quarter of 2021.
