Figures from Consumer Intelligence’s latest motor insurance price index show that premiums have risen by 21.1% in the past year, the biggest annual rise in prices since the index started tracking quoted premiums almost 10 years ago.

Ian Hughes, CEO of Consumer Intelligence, said: “This is the largest yearly increase we’ve seen since we started tracking quoted premiums in October 2013 and during the last three months alone premiums have soared 6.7%. That’s the second largest quarterly increase we’ve ever witnessed as well.”

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