OFT Claims Insurers Inflate Repair Prices

The video discusses the impact of referral fees and inflated repair costs on the insurance industry. It highlights how these practices lead to higher premiums for customers, with insurers and garages benefiting from financial incentives. The report by the OFT reveals that repair costs are often inflated, affecting both insurers and customers. Despite efforts to reduce these costs, the savings on premiums are minimal, leaving customers to bear the brunt of rising insurance expenses.

What is the estimated annual increase in premiums due to these practices?

What is the potential saving for drivers if the market quirks are removed?