Q1 Sees Fall In Average Cost Of Car Insurance

Motorists will be pleased to read that, for the first time in a long period, the average cost of fully comprehensive car insurance here in the UK has fallen in the first quarter of 2018. That is according to the Confused.com car insurance price index that has recently been produced and can be seen by you in full on the above price comparison website.

In the first quarter of this year, the average cost of such cover dropped slightly to £768 with this being a fall of £13 when compared with the same period in 2017. This equates to a reduction of 2%. It is an even bigger fall in comparison to the fourth quarter of 2017.when the average premium for comprehensive cover stood at £827.

It was not good news for motorists throughout the UK. For instance, Scottish regions saw premiums rise in Q1 of 2018. For example, there was a £32 rise in the Borders of Scotland.

Apparently, when looking at the cost of cover based upon a motorist’s age, the majority of ages have seen a fall in premiums in the first quarter of this year. An exception to this is a driver of 68 years of age who has seen their premium rise by an average of £40 in the space of twelve months. A 17 year old is paying an average of £2,003 per annum, an 18 year old £2,114 per annum, a 21 year old £1,621 per annum and a 34 year old an average of £655 per annum.

Apparently, there are an awful lot of motorists who are seeing the cost of insuring their vehicles rise when they come to renew their cover. Therefore, it is important that policyholders shop around for their cover to see if they can obtain the cover that they require but at a lower premium. There are dozens of providers of motor insurance so you could use the likes of a price comparison website to try to help you source a better deal.

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