Cost of UK car insurance just £11 off record high

Research has shown that car insurance premiums are on track to be the most expensive on record. Amanda Stretton, motoring editor at Confused.com, responds:

“Car insurance prices are at tipping point and soon we expect drivers to be paying the highest ever prices for their premiums. Our own research, analysing over 6 million quotes from the last quarter, shows that car insurance premiums have ramped up to an average of £847 – just £11 short of the highest ever price.

“We can’t say that we’re shocked by these figures as we knew drivers would be taking a hit following the Ogden rate cut and hike in IPT to 12%. But since April this year, insurers are required to show drivers at renewal what they paid for their car insurance last year. Being able to compare the amount they paid the year before, and armed with the knowledge that prices are rising across the board, motorists are better equipped than ever to shop around.

“As many as half of drivers can save up to £284 by shopping around at Confused.com, so drivers wanting to make savings should take note of their renewal price and take a few minutes to get a comparable quote online.”

For more information, please contact charlotte@the10group.co.uk / 020 7637 0656