AA Insurance’s managing director noted that he wasn’t surprised to see prices rising, and in fact he expects that trend to continue in the future. He points to the discrepancy between the cost of car insurance claims and the revenue from premiums as the underlying reason. Cheap car insurance is not easy to find as in the past.
TPFT (third-party fire-and-theft) car insurance has also reached an all-time high. Industry experts have attributed this increase to the growing cost of TPFT insurance claims, and particularly those of inexperienced younger drivers. Cheap car insurance for young drivers is especially difficult to find.