In a recent interview with GB News, a leading expert predicted that car insurance premiums are likely to keep climbing, urging drivers to take proactive steps in managing their finances.
Current figures reveal that the average cost of car insurance has surged to £882, marking a notable £106 increase or 14 percent rise over the past year. Young drivers, particularly those under 18, face even steeper rates, with average premiums reaching £2,960—a staggering 23 percent annual increase.
This rise in insurance costs comes amid widespread financial strain for motorists of all ages, prompting calls for insurance companies to offer more support to financially burdened drivers.
Experts attribute the surge in premiums to increased payouts by insurers for claims. Kevin Pratt, a car insurance specialist at Forbes Advisor, commented on the situation, stating, “The recent sharp rise in car insurance costs has taken many drivers by surprise. This increase is partly driven by the higher costs of claims that insurers are facing.”
Pratt also emphasized the importance of comparing insurance policies to find the best rates. He suggested that insurance providers should implement clearer guidelines to help drivers save on their premiums without incurring excessive charges.
