The cost of motor insurance went up last year because of rising paint prices and higher energy costs, according to a trade body.
The average cover price increased by 8% in the last three months of the year, compared to the previous quarter, the Association of British Insurers ABI said.
The typical premium of 470 was up 7% in the last three months of 2021, up 7%.
The trade body said vehicle repairs cost more because of the rise in the cost of paint and the jump in energy prices.
Jonathan Fong, senior policy adviser at the ABI, said that every motorist wants the best insurance deal, especially when coping with cost-of-living pressures, and insurers continue to do all they can to keep motor insurance competitively priced.
Like many other sectors, insurers are facing higher costs, such as more expensive raw materials, which are becoming increasingly difficult to absorb.
If you're concerned about being able to continue paying your insurance premium, talk to your insurer about any alternative payment options that may be available. The ABI said that the average price for a new deal was a record high of 531, while the price for renewing an existing motor insurance policy was typically 428.
In January, the Financial Conduct Authority introduced rules designed to make sure people who are loyal to the same insurer are not penalised for doing so.
The rules state that renewal of customers for motor and home insurance is no more than the price charged to an equivalent new customer for the same policy bought through the same distribution channel, such as an insurer, broker or price comparison website.