Insurance companies must hit the brakes on excessive premiums

Not least of the problems facing families trying to get through the cost of living crisis is the rapid rise in car insurance premiums. They’re up by more than a half since last year – way ahead of any increase in the cost of repairs or in other costs.

Inflation may explain part of these shocking increases, but it cannot account for all of it. It is an intolerable situation, made worse by the mysterious ways of the insurance sector. They have been among the worst abusers of misplaced customer loyalty, or “inertia”, over the years.

It’s a big problem. Motoring is hardly the preserve of the rich, with many relying on their vehicles for work, for family duties, or, in rural areas, to access basic services such as shops and their GP.