Thought you were already paying more than enough for car insurance? Then best not look at your next bill, because it’s likely to be even higher.
The UK’s second largest car insurer, Norwich Union, is giving its premiums a hefty hike - increasing them by an average of 16 per cent.
The news is even worse for those seen to pose a higher risk, such as young male drivers. Their premiums, already often in four figures, are to rise by a startling 40 per cent.
David Ross, of Norwich Union, said “I think we’ll find that most insurance companies will follow our lead.”
The insurer justifies the rise by the increase in claim costs over the last two years, singling out claims for personal injury as the biggest rise.