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Economics

Prediction: Pressure will increase to make motor insurance more affordable

Economics
Motor
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Prediction

The new Transport Minister continues to push for motor insurance policies to become more affordable, and has launched its taskforce to "identify the factors behind rapidly rising premiums" and "agree solutions to keep costs down". The Association of British Insurers has already published its ten-point roadmap aimed at tackling costs for all drivers, and insurers are committed to better explaining how premiums are calculated and steps policyholders can take to reduce costs. The move to lower costs will pick up speed next year, especially if inflation continues to sit at around 2% per annum.

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