Main menu For students For teachers Explore our subjects Student events & courses

Explore

More for students
Sign in

Teaching Economics

In the News

Why is car insurance becoming so expensive?

Geoff Riley

26th January 2024

Share this content:

The cost of car insurance in the UK is soaring. Average comprehensive cover is now over £560– a third more than the same time in 2022, according to the Association of British Insurers. This short looks at a few of the reasons.

Why is car insurance becoming so expensive?

This article highlights a practice in the insurance company which discriminates against lower income consumers who can't afford to pay their insurance premium in one go.

As a result, they are effectively paying 30% more for their insurance, and their welfare is being transferred away from consumers to the firms.

Download your free resource.

Sign in to download

or create a free account

Share this content:

Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

You might also like

Storms, Inflation, and Insurance: Economic Pressures Behind Surging Home Premiums

14th August 2024

Quick Revision Blasts on Market Structures

4th May 2023

Contestable Markets - Amazon launches Amazon Insurance Store

19th October 2022

Does Micro Finance Aid Poverty Reduction and Economic Development?

Study Notes

Is telematics the future of car insurance?

17th August 2017

Swinton closes branches as consumers move online

28th April 2017

Why healthy people have high coverage and those most at risk don’t

2nd February 2017

Technology cuts insurance costs for young drivers

29th September 2015