The average price that motorists are paying for their motor insurance continues to remain at a four year low according to the ABI’s latest Motor Insurance Premium Tracker.
The ABI’s Tracker is the only survey that looks at the price consumers pay for their cover, rather than the price they are quoted.
The average price paid for comprehensive motor insurance in the third quarter of 2020 was £460 – the lowest level in four years. The figure remains unchanged from the previous quarter, and is £8 lower than in the same quarter last year.
And, in a further boost for motorists, with the current three tier approach to lockdowns likely to mean changing driving habits , ABI members have recently extended their extra Covid support to the UK’s 27 million private motorists till the end of the year.
If you have to drive to and from your workplace because of the impact of Covid-19, or if you are an NHS volunteer responder your insurance policy will not be affected. You do not need to contact your insurer to update your documents or extend your cover. This policy will be reviewed before the end of the year.