The Association of British Insurers (ABI), which has been collecting data for a decade now, has released the latest motor insurance claims numbers in the UK.
Below are the quarterly figures, according to the ABI.
|
Motor insurance payout |
Q1 2023 |
Change from Q1 2022 |
|
Vehicle repairs |
£1.5 billion |
33% |
|
Replacement cars |
£106 million |
29% |
|
Vehicle theft |
£152 million |
29% |
|
Personal injury |
£642 million |
-11% |
|
Total |
£2.4 billon |
14% |
The number of motor insurance claims settled in the first quarter was 599,000. Just like with the payout value, the growth in the claims count was 14%.
“Motor insurers continue to deliver when motorists and personal injury claimants need them the most,” ABI general insurance manager Laura Hughes said in a release.
“Like most other business sectors, motor insurers face sustained cost pressures which they are finding increasingly challenging to absorb. Despite this, they are doing all they can to ensure competitively priced motor insurance, as well as offering the best possible claims service.”
The ABI noted that the £2.4 billion sum was the highest quarterly payout since data collection began in 2013. Additionally, the £1.5 billion bill for vehicle repairs was also the highest over the past 10 years.
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