The cost of annual car cover is falling at its fastest pace since 2014 marking the fourth quarter of declines in a row, data shows. Motorists paid £752 a year on average for annual cover in the three months to the end of June, which is £16 less than the previous quarter and £95 less than last year, according to figures by comparison website Confused and Willis Tower Watson. Car insurance prices, which rose over the three years between mid-2014 to mid-2017 until reaching a peak of £847 last summer, have started falling recently. This is partly because of looming reforms to whiplash claims and the way large personal insurance claims are calculated that are expected to cut costs for insurers. Falling prices: Car insurance cover costs £752 a year on average But despite the recent drop, car insurance prices are on average still £253 more expensive than rock-bottom premiums seen 10 years ago, when they were £499 on average. Steve Fletcher, head of data insight at Confused, said that while prices were continuing to fall, they were doing so at a much slower rate than the last quarter. He added: ‘This suggests there appears to be a correcting of… Read full this story
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