Last year, motor insurers paid out £9.9 billion to meet claims made by motorists. This was the highest amount paid out since that organization started to maintain records in 2013. The previous year, payouts amounted to £8.4 billion with this being an increase of 18% in comparison to 2023.
The total number of claims that were paid out in 2023 amounted to 2.3 million. This was a rise of 10% when compared with the year before.
In 2023, motor insurance companies paid out £669 million in respect of claims relating to either vehicles being stolen or thieves stealing items from within the vehicles. In 2022 the amount was £543 million so there was a rise of 23% in the following year.
The amount spent to repair motor vehicles totalled £6.1 billion compared to £4.7 billion in 2022 with this being a very big rise of 31%.
The amount paid out to meet claims for personal injury due to the likes of road traffic accidents in 2023 amounted to £2.4 billion. In 2022 the figure was £2.6 billion so there was a drop of 8%.
Obviously, the amount that motor insurers pay out to meet claims has an impact on the premiums companies charge for the likes of campervan cover. The higher the amount of claim then the higher the premium. Let us hope that payouts in 2024 come down in comparison to last year.
Motorists are having to pay, on average, record premiums to insure their vehicles at the present time. So, when you receive your renewal notice, why not shop around to try to get a better deal. In that respect, why not get in contact with us with a view to obtaining a competitive quote to insure your campervan.
