The great car insurance drop comes to an end, with marginal overall increases
The latest Confused.com car insurance price index, in association with Towers Watson, shows that car insurance prices have finally stopped falling. Though the increase in the average cost of comprehensive car insurance is marginal, it's significant as this is the first time premiums have increased since June 2011.
The average comprehensive car insurance price for Q3 2014 stands at £582, which is an increase of £3 on last quarter (Q2 2014 = £579). This isn't great news for motorists, as it suggests that prices have come to the end of their plummet.
It was predicted this would be the case, however, as ongoing price decreases weren't sustainable.
Who's paying the most?
Whereas overall price increases in the UK this quarter are quite minimal, some regions have been hit harder than others.
The most expensive comprehensive car insurance premiums are being paid by young males (aged 17-20) in the Inner London area. Their premiums come to £2,807 on average.
Meanwhile drivers in the South have seen their prices go up by 2.6% quarter-on-quarter, raising their premiums by £12, as this chart demonstrates:
This chart is a league table of the biggest car insurance price reductions by age. As you can see, drivers aged 66 saw the greatest quarterly price increases of all, seeing their premiums increase by 6.1%.