Motorists have been issued with a dire warning as premiums are set to rise after a drastic 40 per cent car insurance hike.
Inflationary pressures have been identified as the key reason for the price increase, with spare parts and labour costs soaring.
Average annual car insurance premiums surged to £743 in June.
The figure is up £208 with the same month in 2022.
Vehicles travelling along the M4 motorway
PA
Drivers under the age of 24 have witnessed a drastic 45 per cent hike in…
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