Car insurance prices reach their highest on record
The price of car insurance has now reached its highest on record, with drivers now paying £776 for their cover, on average. This means car insurance prices have increased by £222 (40%) in just 12 months and £119 (18%) in the last 3 months. That’s according to the latest Confused.com car insurance price index, powered by WTW.
Drivers in London see the biggest year-on-year increases
In the past 12 months, the cost of car insurance in Inner London has increased by £375 (43%) - the highest increase of any UK region. This means the cost of car insurance in Inner London is now £1,257, on average. For drivers in Outer London, prices are £1,003, on average - an increase of £299 (42%) compared to this time last year. Outside of London, some of the highest prices were also seen in:
| Region | Average premium | Annual change (£) | Annual change (%) | Quaterly change (£) | Quarterly change (%) |
|---|---|---|---|---|---|
London - Inner |
£ 1,257 |
£375 |
43% |
£190 |
18% |
Manchester / Merseyside |
£ 965 |
£264 |
38% |
£151 |
19% |
London - Outer |
£ 1,003 |
£299 |
42% |
£158 |
19% |
Midlands - West |
£ 940 |
£281 |
43% |
£153 |
19% |
Leeds / Sheffield |
£ 880 |
£241 |
38% |
£135 |
18% |
Northern Ireland |
£ 821 |
£227 |
38% |
£117 |
17% |
Midlands - East |
£ 760 |
£217 |
40% |
£120 |
19% |
North West |
£ 736 |
£202 |
38% |
£112 |
18% |
South Central |
£ 745 |
£219 |
42% |
£118 |
19% |
Midlands - North |
£ 708 |
£195 |
38% |
£101 |
17% |
North East |
£ 672 |
£182 |
37% |
£93 |
16% |
North |
£ 652 |
£177 |
37% |
£90 |
16% |
Scotland - Central |
£ 691 |
£214 |
45% |
£118 |
21% |
South East |
£ 650 |
£186 |
40% |
£98 |
18% |
East |
£ 650 |
£187 |
40% |
£101 |
18% |
Wales - South |
£ 613 |
£162 |
36% |
£85 |
16% |
South |
£ 605 |
£168 |
39% |
£89 |
17% |
West |
£ 581 |
£164 |
39% |
£85 |
17% |
Scotland - East & NE |
£ 570 |
£171 |
43% |
£89 |
18% |
Scotland - Highlands & Islands |
£ 560 |
£166 |
42% |
£87 |
18% |
Wales - Central & North |
£ 523 |
£137 |
35% |
£68 |
15% |
South West |
£ 509 |
£136 |
37% |
£75 |
17% |
Scotland - Borders |
£ 512 |
£146 |
40% |
£84 |
19% |
Drivers under 20 paying more than £2,000 for their car insurance
Younger drivers are seeing significant increases to their car insurance prices, with 18- and 19-year-olds seeing some of the highest prices on record. That’s as prices have increased by £951 (65%) and £777 (59%), respectively, in the past 12 months. That makes the average prices £2,404 and £2,097, respectively. For 17-year-olds, the cost of car insurance is now £2,088, on average - an annual increase of £823 (65%). At the other end of the scale, drivers around retirement age are benefitting from the cheapest insurance costs. For 69-year-olds, the average price is £413. But that does follow a £101 (32%) annual increase.
How does my age change my insurance costs?
Find out how age and other factors can determine how much you pay for insurance.
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Men pay more than women for car insurance
The average costs of car insurance for men and women have both increased in the last 12 months. Prices have risen by £198 (40%) for women and by £236 (40%) for men. Male drivers now pay £827, while female drivers pay £690, on average.
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