SPIRALLING car insurance bills are to be probed by a new taskforce.Transport Secretary Louise Haigh has ordered watchdogs to examine soaring premiums and the impact on low-income families, young motorists and the elderly.Costs have soared an average of 21% since June 2022, the Financial Conduct Authority found. Ms Haigh has asked it and the Competition and Markets Authority to assess costs.She is thought to be worried about the postcode lottery of quotes with different bills for drivers living streets apart. As well as Economic Secretary Tulip Siddiq, she will bring together the Association of British Insurers, Citizens Advice, Which? and Compare the Market today to look for solutions to lower bills.Ms Haigh said: "Car insurance is an essential, not a luxury. That's why we're bringing insurance companies and regulators round the table to discuss how we can crack down on spiralling costs." Insurers argue they are passing on the rise in the cost of claims, driven by soaring prices for parts and labour.

CAR INSURINSED

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