The Index monitors car insurance price trends in the UK. It is compiled from anonymous data and uses the average of the five cheapest quotes received in response to all enquiries on Confused.com.
We are pleased to bring you the third quarter 2023 edition of the Confused.com Car Insurance Price Index in association with WTW.
Car insurance prices have been rising for a while now – seven straight quarters in fact. But nothing of the order of the second quarter of 2023, during which the average UK comprehensive premium rose by 18%, or £119 - the highest single quarterly increase since we started the Index in 2006.
The cumulative effect of that and the previous increases is that prices have risen by 40% in the last year – another record.
The latest headlines include:
- Average UK car insurance prices rose by 19.2% in the third quarter – a quarterly record.
- Premiums have risen 57.7% on average in the last 12 months.
- The average UK premium now stands at £924, an increase of £338 in 12 months.
- Prices for 17 and 18-year-old drivers have nearly doubled in the last year.
- Drivers of cars valued between £25,000 and £40,000 have seen insurance price increases of over 70% in the last 12 months.
To view the full article, click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
