Observations 12th September ’23
Despite inflation dropping for the last 5 months in a row, quote prices for motor insurance have continued to soar in the last year. However, looking by MLP’s Intelligent pricing data, it’s not all bad. Sold prices for the under £30k market remained constant despite the growing increase in quote price.
We’d expect to see an upward trend in premiums as we grapple with the tail-end of high inflation and this is much more prominent for the higher value market where, despite the occasional dip in January and May ’23, the mean sold premium has seen a steady upward trend.
Observations 12th September ’23
Despite inflation dropping for the last 5 months in a row, quote prices for motor insurance have continued to soar in the last year. However, looking by MLP’s Intelligent pricing data, it’s not all bad. Sold prices for the under £30k market remained constant despite the growing increase in quote price.
Price fluctuation in the past 12 months
Image last updated 1st September 2023