The motor insurance market has been dogged by stagnant premium prices since the recession. This has resulted in three consecutive years of shrinking premium incomes, down to £9.6 billion in 2014. However, the growing strength of household finances is starting to produce an environment in which insurers can consider pushing up premiums. This, alongside the constant demand for a product which is a legal requirement for all drivers, should see the market return to growth, and potentially profit, in the next year or so.
This report examines the UK car insurance market. It includes an examination and forecast of the size of the market, and discussion of the key players and their recent activities. The report also presents Mintel’s exclusive consumer research. This looks at ownership of insurance, how it is bought, how consumers behave when their policies are up for renewal and their attitudes towards car insurance and add-on benefits.
Abbreviations
| AA | Automobile Association |
| ABI | Association of British Insurers |
| ANDIE | Aioi Nissay Dowa Insurance Europe |
| BIPI | British Insurance Premium Index |
| CC | Competition Commission |
| DfT | Department for Transport |
| DLG | Direct Line Group |
| DVLA | Driving and Vehicle Licensing Agency |
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