Motor premiums set to rise by 29% by 2018

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Premiums for a standard car driver are set to increase by 20% to £360. Commercial drivers can expect to see a 29% increase. Research from ERS suggests that the main factor of the premium rise is the change to the Ogden discount rate, which could make premiums £21 higher for the average driver and £330 higher for taxi drivers. Ian Parker, CEO of ERS, said: “This is a pivotal year for motor insurance, with a range of factors converging which will translate to higher premiums for every motorist.