Motor insurance tariffs fell sharply

According to British Automobile Association (AA), motor insurance tariffs experienced a 14.1% drop in 2013, the largest decline since 1994. The average premium for comprehensive insurance went down in one year from 621 GBP (1 004 USD) to 533 GBP (878 USD), a fall initiated as of the first half of 2012 and accounted for by the combined effect of competition between insurers and the anticipation of lower loss experience following the implementation of a new law eliminating fraudulent claims for fabricated injuries including those caused by the whiplash.