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.
About the Car Insurance Price Index
The Confused.com Car Insurance Price Index in association with WTW monitors car insurance price trends in the UK, with summary results published quarterly. All figures quoted are for comprehensive cover.
The Index is compiled from anonymous applicant data and uses the average of the five cheapest prices received in response to all enquiries on Confused.com, one of the UK's leading comparison sites.
The Index is one of the longest established in the industry, having collected data on pricing trends since the final quarter of 2006. Moreover, millions of new quotes contribute to each quarter's findings. This makes it the most comprehensive current insight into price trends, particularly as it is focused on the dominant price comparison channel.
We are pleased to bring you the fourth quarter 2024 edition of the Confused.com Car Insurance Price Index in association with WTW.
Comprehensive car insurance premiums have decreased by 16.2% (£161) during the last 12 months, according to the longest established and most comprehensive car insurance price index in the UK. The index is based on price data compiled from over six million customer quotes per quarter.
This is the biggest annual percentage decrease since 2014 and follows a two-year-long upward trajectory in prices from 2021 to 2023.
The latest headlines include :
- The average UK premium now stands at £834, having fallen by 16.2% (£161) in the last 12 months, which is the biggest annual percentage decrease since 2014.
- Premiums have now fallen for the fourth quarter in a row and on average by 3.2% (£27) in the last three months.
- The West Midlands replaces Manchester/Merseyside as the most expensive region outside of the capital, despite average premiums falling by 17% during the last 12 months and now costing £1015.
- Drivers aged 18 saw the greatest price fall compared to other age groups with an annual price drop of £557 reducing their average premiums to £2,605.
To request a copy of the quarterly results and to be added to the list for future mailings, please complete the form.
16.2%
Decrease in premiums in the last 12 months.
3.2%
Average uk car insurance prices fell for the fourth quarter in a row.
Subscription services
A subscription service is available, disclosing the results of this analysis for comprehensive motor insurance at a much more granular level and on a monthly basis, thereby providing a deep insight into market price movements.
- This offers subscribers a detailed summary of average premiums by factor and geography with the structure and parameters of a multiplicative market model.
- The service is available to organisations that are not currently Confused.com partners and is identical for all subscribers.
- No analysis of individual insurance providers' prices is possible. The Index is compiled using anonymous customer data.
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.
