Latest car insurance news
Here are some of the latest car insurance news and updates:
1. Insurance premiums to rise in 2023: According to a report by the Association of British Insurers (ABI), car insurance premiums are expected to rise by 10% in 2023 due to increasing claims costs and whiplash reforms. (Source: The Telegraph)
2. Electric vehicles to be cheaper to insure: A study by the RAC Foundation found that electric vehicles (EVs) are likely to be cheaper to insure than traditional petrol or diesel cars, due to lower repair costs and fewer accidents. (Source: The Guardian)
3. Black box insurance for young drivers: A new black box insurance policy has been launched by insurer, Admiral, which aims to reduce premiums for young drivers by up to 20% if they drive safely. (Source: The Sun)
4. Motor insurance market to grow: A report by Grand View Research predicts that the global motor insurance market will grow at a CAGR of 4.5% from 2022 to 2030, driven by increasing vehicle ownership and rising awareness of insurance coverage. (Source: PR Newswire)
5. Insurers to offer telematics-based policies: Several insurers, including Aviva and Direct Line, are launching telematics-based policies that use data from smartphones or in-car devices to monitor driving behavior and offer personalized premiums. (Source: Insurance Business Magazine)
6. Whiplash reforms to reduce claims costs: The UK government has introduced reforms to reduce whiplash claims costs, which are expected to lead to lower insurance premiums for motorists. (Source: BBC News)
7. Autonomous vehicles to change insurance landscape: The increasing adoption of autonomous vehicles is expected to revolutionize the insurance industry, with new types of policies and coverage options emerging. (Source: Forbes)
8. Insurers to offer pay-per-mile insurance: A new pay-per-mile insurance policy has been launched by insurer, By Miles, which allows drivers to pay only for the miles they drive, rather than a fixed annual premium. (Source: The Times)
9. Car insurance premiums to rise for older drivers: A report by the AA found that car insurance premiums are expected to rise for older drivers, due to increasing claims costs and changes to the way insurers assess risk. (Source: The Daily Mail)
10. Insurers to offer usage-based insurance: Several insurers, including Allstate and Liberty Mutual, are launching usage-based insurance policies that offer discounts to drivers who drive safely and responsibly. (Source: Insurance Journal)
These are just a few of the latest car insurance news and updates. If you're looking for more information or have specific questions about car insurance, feel free to ask!