Car insurance hikes of up to 10%

MOST car insurance premiums will increase next year, many by up to 10%.

Nine out of 10 motor insurance companies surveyed by Deloitte said they plan on hiking premiums next year, with a third planning a hike of between 5% and 10%. Just over half expect an increase of up to 5% while 3% expect an increase greater than 10%.

The survey showed car insurance firms showed further falls in profitability, with four of the major companies showing an underwriting loss for last year.