Beat Rising Insurance Premiums with pluginsure

The Association of British Insurers ("ABI") has reported that the cost of motor insurance continues to rise with the latest data from its Premium Tracker showing that premiums have reached record levels.

The ABI’s Premium Tracker - the only market survey which measures prices consumers actually pay for their motor cover (rather than quotes) shows that the average premium paid over the whole of 2017 at £481 was 9% higher than the previous year and the highest since ABI started collecting this data back in 2012. This added an extra £40 to the average premium.

This increase has contributed to an increase of 29% in the average cost of motor cover since 2014.

The ABI has urged the Government to help combat these costs by speeding up reforms determining how compensation for large personal injury compensation awards is adjusted (known as the Discount Rate) together with reforms to address how lower value whiplash claims are handled. The ABI is also pushing for the Government to halt recent rises in Insurance Premium Tax which has now reached 12%.

In light of these increases, from which electric car owners are not immune, it is all the more important that you shop around. Here at pluginsure we’re continually trying to do our bit to deliver value for money for our customers. If the premium on your renewal notice has leapt up or you are considering whether to purchase an electric car,  get a quick quote from us today or call us on 0330 043 1962 to discuss your electric car insurance requirements.