The overall picture
Car insurance prices continue to rise
The cost of car insurance continues to rise, with UK drivers now paying £629, on average. That’s according to the latest Confused.com car insurance price index, powered by WTW. The figures show a £100 (19%) increase in the past 12 months. This is the highest annual increase in more than 6 years.
Average prices by region
Drivers in Central and East & North East Scotland, and the North Midlands pay highest on record
Steep increases mean drivers are paying the highest car insurance costs on record in:
- Central Scotland
- East & North East Scotland
- North Midlands
Drivers in Central Scotland are now paying £547, on average, following a £100 (22%) rise in prices in the past 12 months. Meanwhile, drivers in East & North East Scotland, and the North Midlands are now paying £80 more than last year (21% and 16% respectively). Their average car insurance costs are now £456 and £578, respectively. However, these aren’t the biggest monetary increases, as drivers in Inner London pay £1,008, on average, following a £183 (22%) rise in prices.
Complete regional insurance pricing data
Region | Average premium | Annual change (£) | Annual change (%) | Quaterly change (£) | Quarterly change (%) |
---|---|---|---|---|---|
London - Inner |
£1,008 |
£183 |
22% |
£72 |
8% |
Manchester / Merseyside |
£790 |
£108 |
16% |
£53 |
7% |
London - Outer |
£808 |
£143 |
21% |
£67 |
9% |
Midlands - West |
£755 |
£112 |
17% |
£58 |
8% |
Leeds / Sheffield |
£715 |
£102 |
17% |
£46 |
7% |
Northern Ireland |
£668 |
£120 |
22% |
£37 |
6% |
Midlands - East |
£612 |
£87 |
16% |
£37 |
7% |
North West |
£599 |
£82 |
16% |
£39 |
7% |
South Central |
£598 |
£93 |
18% |
£38 |
7% |
Midlands - North |
£578 |
£80 |
16% |
£35 |
6% |
North East |
£546 |
£76 |
16% |
£28 |
5% |
North |
£535 |
£76 |
16% |
£31 |
6% |
Scotland - Central |
£547 |
£100 |
22% |
£42 |
8% |
South East |
£533 |
£91 |
21% |
£37 |
7% |
East |
£531 |
£89 |
20% |
£39 |
8% |
Wales - South |
£510 |
£77 |
18% |
£37 |
8% |
South |
£498 |
£80 |
19% |
£30 |
6% |
West |
£475 |
£81 |
20% |
£32 |
7% |
Scotland - East & NE |
£456 |
£80 |
21% |
£25 |
6% |
Scotland - Highlands & Islands |
£448 |
£79 |
21% |
£28 |
7% |
Wales - Central & North |
£432 |
£72 |
20% |
£24 |
6% |
South West |
£417 |
£64 |
18% |
£22 |
6% |
Scotland - Borders |
£418 |
£70 |
20% |
£27 |
7% |
Average prices by age
Young drivers still paying high insurance costs
The latest data reveals that young drivers are still paying more than £1,000 for their car insurance. Figures show that drivers aged 18 are currently paying £1,715, on average - an annual increase of £307 (22%). This is the steepest increase of all age groups. But this isn’t the highest price recorded for drivers of this age.
A £130 (17%) increase for drivers aged 28 puts their average insurance cost at £912 - the most expensive price on record for this age. Similar jumps are seen with drivers aged 30. That’s as annual costs have risen £149 (21%), on average. And although generally cheaper in cost, older drivers are still seeing increases too. For example, drivers aged 65 saw the cost of car insurance grow by £66 (21%) compared to this time last year. This means they’re now paying £385, on average.
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How to claim a reward
*Based on data provided by Consumer Intelligence Ltd, www.consumerintelligence.com (February '23). 51% of car insurance customers could save £407.05
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Average prices by gender
Men pay more than women for car insurance
Men continue to pay more than women for their car insurance, but costs have increased for both over a 12-month period. On average, car insurance costs have increased by £105 for men and £90 for women. Male drivers now pay £672, while female drivers pay £557, on average.