Car insurance price index

The most comprehensive analysis of car insurance pricing in the UK

The overall picture

Car insurance on track to be most expensive on record.

In the last quarter (Q2 2017) prices have shot up by 8% on average - equivalent to a £66 rise in just three months, according to the latest Confused.com car insurance price index powered by Willis Towers Watson. This means a driver can now expect to pay £847 for a typical comprehensive car insurance policy, which is just £11 short of the most expensive average premium on record. The recent cut to the Ogden rate and increase to Insurance Premium Tax can be attributed for the sharp quarterly price increases.

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Comprehensive car insurance price index

Q3 2012 - Q2 2017 - Average price per quarter

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Average prices by region

Motorists in Northern Ireland have broken the £1,000 barrier and are paying more than ever.

Pound-for-pound, drivers in Northern Ireland have seen the greatest quarterly and annual increases in the cost of their car insurance than in any other area. Premiums increased by £116 this quarter equivalent to a hike of 12%. And year-on-year drivers saw their prices go up by £196 on average, a percentage rise of 23%. This has led to Northern Ireland breaking the £1,000 barrier for the first time, with premiums now reaching £1,059 – the most expensive average premium ever paid by motorists in this region.

Average prices by age

Many age groups are paying more than ever, while younger drivers bear the brunt of increases.

Drivers aged between 25 and 42 years old and 54 and 70 years old are now paying more than they have ever paid for their premiums. Younger drivers still have some way to go before passing their peak, but all those aged between 17 and 27 years old are now paying over £1,000 for their car insurance, on average.

Average prices by gender

Both men and women have seen annual and quarterly rises, paying £901 and £781 respectively.

Men and women have seen their prices go up sharply this quarter by 9% (£77) and 7% (£53) respectively. Even though the rules prohibit insurers from assessing a driver’s risk on their gender, the data shows men still have poorer claims experience than women, based on the value of claims, and this is reflected in the price of their premiums. As a result, there is now a £120 difference between the sexes. This is linked to the fact that men tend to drive more expensive cars with larger engines than women and, on average, they have more convictions.

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