Motor insurance in the United Kingdom

Published by James Cherowbrier, Jul 4, 2018
In 2017 there was nearly one car registered for every two people with a massive 31.2 million cars congesting roads in the United Kingdom. That equated to over 20 million households with motor insurance. With so many vehicles on Britain's streets, it is not difficult to see why there were numerous claims from accidents on the road. Motor insurance companies paid out over 16.5 billion British pounds in claims in 2016, amounting to approximately 23.6 million pounds per day in domestic payments alone.

With so much being paid out in claims it may not be surprising that premium costs for consumers have also risen over time. The average comprehensive cover increased by almost 230 British pounds and third party, fire and theft policies by a further 500 hundred British pounds between 2010 and 2018.

Motor insurance premiums are affected by a number of reasons relating to the individual including age, gender and even where they live. As well as the individual there have been a number of other factors influencing the acceleration of motor insurance premiums. One major reason has been the steep rise in insurance premium tax rates which have increased from 2.5 to 12 percent between 1993 and 2017.

Another factor that may affect motor insurance costs could be uninsured drivers as well as motor insurance fraud. In 2016 London had an estimated 191 thousand uninsured vehicles, which amounted to 6.1 percent of the capital's 3.1 million vehicles. As for fraud, approximately 68 thousand fraudulent claims were detected in 2016, with a value of 780 million British pounds.

Interesting statistics

In the following 4 chapters, you will quickly find the 29 most important statistics relating to "Car insurance in the UK".

Motor insurance in the UK

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!
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Important key figures

The most important key figures provide you with a compact summary of the topic of "Car insurance in the UK" and take you straight to the corresponding statistics.

Motor insurance premiums

Motor insurance claims

Motor insurance fraud

Infographics on the topic

Car insurance in the UK Infographic - Keyless entry flaws fuel rise in UK car thefts

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