Motor insurance prices fall as fears over injury payments subside

It has been widely reported in recent weeks that car insurance prices are falling; some industry commentators would say as much as 10% over the past twelve months.
Whilst this is good news for every motorist, it has to be noted that there were dramatic increases in early 2017, following a government announcement in the change that the way personal injury claims are calculated.
Fears around the proposed increase in pay-outs pushed rates up, however a government U-turn last autumn has seen insurers return to those rates pre the “Ogden” review, meaning that whilst some are claiming prices are reducing I would suggest that the market is just finding a natural balance.
Motor insurance rates always have been very cyclical; insurers increase rates to adjust to the cost of claims and operations, the market finds a balance and then rates reduce are companies fight for market share and I see no end to this 3-5 year cycle.
Prices increases or reductions are not always across all risk types, whilst many drivers who are 30+ may see bigger savings, young drivers will not benefit from the same reductions. Likewise certain vehicle types will always demand a premium as will those that have a higher than average annual mileage.
There is no magic formula to getting “cheap” motor insurance, price comparison sites will claim to search the market for you, but is it really a truly independent search and once you have selected a single provider you are forced to do the same again next year.
Why not choose a truly independent broker that can claim to search the whole motor insurance market for you, give you advise on cover, features and benefits not just at inception but at each and every subsequent renewal?