Place a Cap on Motor Insurance Premium Increases

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Petition Action

Place a Cap on Motor Insurance Premium Increases

Petition Details

We want the Government to place a cap on the amount insurers can increase annual motor insurance premiums by, so that this cannot exceed inflation.

Additional Information

Car insurance premiums have increased by around 60% in the twelve months to August 2023. Even when shopping around using comparison sites, many motorists are finding a hefty increase in their premiums, well over the 9.1% inflation figure for that period.

Under the Road Traffic Act, having Motor Insurance is a legal requirement so insurers have a captive market. Insurers need to be prevented from what we believe is unfair profiteering.

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