Car insurance reaches record highs, industry finds
Record high motoring insurance is being driven by inflation and vehicle repair costs, the ABI saidMotorists are paying more than ever to insure their vehicles with the industry claiming inflation and a massive rise in vehicle repair costs are to blame.
The cost of vehicle repairs leapt by 33% over the year to £1.5bn, reflecting rising costs, including energy inflation, it added. Diane Cedra, 66, from Solihull in the West Midlands paid £211.99 to insure her Peugeot 2008 with Saga last year. When her insurance expired on the 31 July she was quoted almost triple that amount - £620.
In Burnley, Karl Kemp was told by Churchill it would cost him £1,653.66 to insure his Range Rover Evoque, up from £925.90 last year, despite no changes in his circumstances.
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