Motor insurance pay-outs so far this year have reached a record level with over £23 million ($29.5 million) being paid every day, according to figures out today at the ABI’s Motor Conference. The pay-outs cover theft, own vehicle and third-party property damage, as well as personal injury compensation. Rising repair bills and theft claims are the main driving forces behind the rise.
The ABI’s latest motor claims data collected from its members highlights that, in the first nine months of the year:
- Repair bills, which at £3 billion ($3.85 billion) so far this year, have risen by 5 percent on
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