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The overall picture Q2 2014

Car insurance prices fall further, with a year-on-year decrease of 15%

The latest car insurance price index, in association with Towers Watson, shows that car insurance prices remain in the descendent. The average cost of comprehensive car insurance for Q2 2014 stands at £579, which is a drop of 15% year on year. 

Comprehensive car insurance Q2 2011 - Q2 2014

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The average comprehensive car insurance price for Q2 2014 now stands at £579, which is a drop of £99 compared to this time last year (Q2 2013 = £678). This is good news for motorists, as premiums are at their lowest price in almost five years (Q3 2009 = £549).

Since the EU Gender Directive, which took effective on December 21st 2012, insurers are no longer able to use sex as a factor when pricing insurance. The gender divide used to be quite substantial, but the gap is now closing. Both men and women in general have experienced year-on-year car insurance price drops of -13% and -17% respectively. The average male premium now stands at £602. Females pay slightly less at £550. So now the gender price gap stands at just £52. 

Young female drivers in the Manchester and Merseyside area have seen the biggest drop in car insurance prices year-on-year, as this chart demonstrates: 

Biggest annual decreases for comprehensive car insurance by region, gender & age (17 - 20 years)

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Which age groups have seen the biggest decreases?

This chart is a league table of the biggest car insurance price reductions by age. As you can see, young drivers chiefly benefit. Although there is one anomaly, as 55 year olds have seen a 19% drop in their average car insurance prices: 

Largest yearly comprehensive car insurance decrease by age

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Average prices by gender

Price index - gender

The car insurance price divide between men and women, which once saw females being much better off, is now closing significantly. 

Average prices by region

Price index - region

How does the area in which you live affect insurance? See car insurance prices broken down by region.

How car insurance is calculated

How is the price index calculated

When an insurer charges you for your car insurance, how does it work out the cost? Find out how car insurance is calculated.

Car insurance price index trends

Price index trends

Discover the trends in car insurance premiums. The car insurance price index tracks car insurance prices every quarter.

Compare car insurance

Compare car insurance

Are you paying too much for car insurance? Compare quotes from top providers to find a better deal.

Car insurance price calculator

Car insurance price index calculator

Want to know what the average price for car insurance is for your age, sex and area? Try our car insurance price calculator.