Motor insurance claims fall due to coronavirus (COVID-19) lockdowns

Motor insurance claims fall due to coronavirus (COVID-19) lockdowns

The Association of British Insurers (ABI) has published figures stating that there were 19% fewer motor insurance claims in 2020. While the total amount paid fell, the average personal injury claim rose by 13%. The number of total claims is 'unsurprising' due to the coronavirus (COVID-19) lockdowns in 2020, which led to fewer motor vehicle journeys.

The 2020 highlights are:

• the total number of settled claims was 2.1 million, down 19%. Total payouts were down 6% to £8.3bn. The ABI states that this reflects government figures, which found a 14% fall in road traffic to June 2020

• in 2020, the average price paid for comprehensive motor insurance fell to a four year low, at £465

• the average claim value was £4,000, an increase from £3,400 in 2019

• the average value of a personal injury claim arising from motor insurance increased to £12,100

Source: Pandemic lockdowns lead to fall in motor insurance claims in 2020

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