The cost of comprehensive auto insurance, on average, is dropping in the UK, according to the Confused.com/Towers Watson Car Insurance Price Index, having fallen £50 ($31.27) since the New Year. Between April and June, the cost of coverage fell by 2.3 percent to £797 ($1246.03) on average, a 7.1 percent decrease from a year ago. The results are based on 5 million customer quotes.

“There still have to be question marks over whether rate reductions are premature given what we know about overall market profitability,” said Duncan Anderson, Towers Watson's Global Pricing and Product Management leader. “The fact that the latest statistics from the Institute and Faculty of Actuaries show an 18 percent increase in the proportion of motor accidents having a personal injury claim continues to cast a lingering shadow over insurers.”

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access