MOTOR insurance payouts have hit record levels as flashy parking sensors and cameras push up repair bills.
Firms are forking out £23million a day yet premiums are falling due to competition and upcoming reform to the compensation system.
The Association of British Insurers said the average repair bill had risen to £2,137, partly because cars are being built with more, and increasingly sophisticated, sensors — such as those on bumpers.
The total repair bill so far this year is £3billion, five per cent up on 2017.
Theft claim costs have hit £271million, a third up. Overall, insurers have paid £6.4billion — a four per cent rise and the highest since 2013 when records began.
The number of claims settled is up 11 per cent at 41,000. ABI boss Huw Evans said comprehensive cover averaged £471 last quarter, down by £14 on last year. He said: “Some insurers may be reacting to the progress of the civil liability bill . . . that will bring much-needed reforms to the personal injury compensation system.”
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