London, United Kingdom (CU)_ According to latest research, UK vehicle insurance costs are at their lowest in five years after a dramatic decline in claims during repeated lockdowns. According to Willis Towers Watson (WTW), comprehensive auto insurance premiums dropped 3% in the second quarter of 2021 to £522 on average, which is the lowest drop witnessed since early 2016. Premiums have also dropped by 12% in the last year, which is the second largest yearly decline since 2014, and costs have now dropped for three quarters in a row.
According to Graham Wright, senior director at WTW, COVID-19 and regulatory constraints have caused the personal lines insurance market to enter one of the most…
