Skip navigation

Confused.com and Towers Watson car insurance price index

Insurance prices fall but regional hikes for women are revealed by Confused.com / Towers Watson car insurance price index

Countdown: 252 days until the gender equality law takes effect

  • Confused picture: Falls of 3% for women YoY, but in some areas, hikes of up to 9.7%
  • Women aged 21-25 in Manchester & Merseyside see rise of 4.7%
  • Hikes for women take hold in Leeds/Sheffield, Inner London, Manchester/Merseyside & West Midlands
  • 26-30 year old women in Leeds/Sheffield area hit with 4.3% hike
  • Despite hikes, 17-20 year old women in the UK still pay £1,766 less than men

After several years of soaring price increases, car insurance prices have fallen. But car insurance prices are still 61% higher than they were at the end of 2006.

Car insurance prices for women have fallen 3% year-on-year as the latest Confused.com/Towers Watson Car Insurance Price Index shows, however in some UK regions women are experiencing hikes as high as 9.7%, showing a murky picture across the UK.

For men, the price of comprehensive car insurance has dropped by 1.8% year on year bringing an average policy to £869 at the end of March 2012.This compares with women who were paying £751 in the same period.  Overall the average cost of a comprehensive policy is £816 in Q1 2012.

Most expensive car insurance premiums in the UKHowever, the Confused.com/Towers Watson Car Insurance Price index also shows that some women have seen more significant rises than men in the 12 month period. These changes are taking place in Leeds and Sheffield, Inner London, Manchester & Merseyside as well as the West Midlands and mostly amongst the 21-30 age group.

In the Leeds/Sheffield area, the Confused.com/Towers Watson car insurance price index shows that the cost of a comprehensive policy for women aged 21-25 increased by 3.4% YoY in Q1 2012, totalling £1,437. This compares with a 2% rise for men of the same age and postcode who in Q1 2012 paid £2,199 for a comprehensive policy.

Women aged 21-25 living in Inner London also took a hit in premiums, experiencing car insurance price rises of 3.9% YoY in Q1 2012, whereas 21-25 year old males living in the same postcode saw a lesser 3.4 per cent hike.

In the Manchester/ Merseyside region, women aged 21-25 were grappling with price hikes of 4.7% as the price of a comprehensive policy rose to £1,820. By contrast, their male counterparts saw a 3.6% rise.

Interestingly, and also in the Manchester/ Merseyside area, those women aged 66-70 were hit with a huge 9.7% rise in their insurance premium, compared with a 5.7% rise for men.

Despite being hit with regional hikes, women are still paying less than men for car insurance because the cost of claims is less for women compared to that of men. The Confused.com/Towers Watson car insurance price index shows that for the first quarter of 2012, female drivers aged 17-20 were paying £1,766 LESS than men of the same age. The average cost of a fully comprehensive car insurance policy in the first quarter of 2012 for a female aged 17-20 is £1,869 compared with males of the same age who pay £3,635.

Regions where women have received higher insurance price hikes than men

Postcode region impacted by insurance price increase

Age group

Yearly percentage increase for males

Yearly percentage increase for females

Leeds/Sheffield

21-25

2.9%

3.4%

26-30

4.1%

4.3%

Inner London

21-25

3.4%

3.9%

26-30

3.3%

3.8%

Manchester/Merseyside

21-25

3.6%

4.7%

66-70

5.7%

9.7%

West midlands

21-25

1.4%

2.5%

As well as some women in some regions feeling the effects of car insurance price rises, increases above the rate of inflation (3.4%)* were seen in Oldham, Uxbridge, Bradford and East London.  With a price increase of 7.1%, Oldham replaces Bradford as the postcode with the fastest rising prices over the last 12 months.

Gareth Kloet, Head of Car Insurance at Confused.com says: “Overall we’ve seen insurance prices come down marginally but, some women are seeing significant increases in their premium. The European Union gender equality law bans the use of gender as a factor in calculating the cost of an insurance policy and comes into effect on 21 December 2012. As a result, we expect women everywhere to see hikes to their car insurance costs.”

“The differences highlighted in the price index shows that there has been a shift in how much men and women are charged for their car insurance, however the picture is unclear. Customers need to shop around, and consider switching insurers to get the best deal.”

-Ends-

Media information

Confused.com press office:
Email
Sarah.wenham@confused.com or phone 07788310289
Email
prteam@confused.com or Helen Beckett 07551005877

Notes to editors:

For further information: http://www.confused.com/news-views/infographics/car-insurance-interactive-4

More than 4 million quotes are used in the construction of each quarter’s insurance price index - this makes it the most comprehensive insurance index in the UK. Unless otherwise stated all prices referred to are for comprehensive cover.

*http://www.bankofengland.co.uk/Pages/home.aspx

Confused.com was the UK's first price comparison site for car insurance. Confused.com is one of the UK’s biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurancebreakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance.

Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.


Contact our media team

Got a press query or want more info? Contact our media team.

laptop with contact our media team on screen


Our campaigns

Here you can find all of Confused.com's campaigns, from our pothole petition to keeping our motorway lights switched on.

Our campaigns Loudspeaker

Watch our QuickQuote Ad


Blogs

Our blogs get people talking. Read all the latest from our contributors in the new blog section.

Blogs

Infographics

Take a look at our infographics for interesting facts on everything from road rage to Wayne Rooney.

Infographics

Videos

Check out our videos. We've got guides, entertainment, and - of course - hints on how to get cheaper car insurance.

videos


Advertisements