Cost.co.uk Responds to ABI Breakdown of Motor Insurance Premiums

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Leading comparison site, Cost.co.uk, has responded to a new report by the Association of British Insurers that outlines what motor insurance premiums pay for.

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It paints a clearer picture of why car insurance can be so high for some as well as pointing out the expense of whiplash claims that have come under scrutiny recently

The Association of British Insurers has published a report on where motor insurance premiums go and what they account for.

Personal injury claims account for the largest proportion of insurance premiums, with 20% of premiums paying out for whiplash claims alone. 15% was spent on personal injury claims under £500,000 and 9% on personal injury claims over £500,000.

29% of premiums were paid out for repair costs and replacement vehicles, 26% on staff and overheads, 3% on uninsured drivers and 2% on theft.

A spokesperson for Cost.co.uk has responded to the research with interest:

“This research offers a clear picture of what motor insurance premiums account for and what motorists are paying for when taking out insurance. It paints a clearer picture of why car insurance can be so high for some as well as pointing out the expense of whiplash claims that have come under scrutiny recently.

“Fake whiplash claims are driving premiums higher every year, they already make up 80% of injury claims are hard to prove or deny.”

Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customers to seek out great deals and offers for travel insurance, car insurance, credit cards, holidays and more. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.

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Ben Austin
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