Motorists will no doubt be interested to read that the average car insurance premium in the last quarter of 2021 amounted to £539 per annum with this being an average of £25 per annum higher than premiums in the third quarter of 2021 when they were an average of £514 per annum. This is the first quarterly rise since the third quarter of 2020. Premiums are still an average of £36 per annum cheaper than in the last quarter of 2020 according to the Confused.com Car Insurance Price Index.
One cannot help but wander if this is the start of things to come i.e. are we going to see motor insurance premiums continue to rise? Premiums started to reduce some time ago due, in part, to the pandemic with a lot of people working from home and spending less time driving their cars. Now that a number of workers have returned to work in offices this has resulted in more vehicles on our roads, more accidents and an increase in insurance claims.
Yet again, it is Inner London where motorists pay, on average, more for their car insurance. The average premium in the last quarter of 2021 amounted to £843 per annum with this being an average of £39 per annum more than the previous quarter.
Age also plays a part in how much insurers charge for cover with the young motorist tending, on average, to bear the brunt of higher premiums than experienced drivers. For instance, an 18 year old pays an average of £1,407 per annum. A 30 year old pays an average of £713 per annum. A 69 year old pays an average of £310 per annum.
If you are a new driver looking to insure your first car or if your existing cover is shortly due for renewal, why not get in touch with us. We will do all that we can to help you obtain a competitive motor insurance quotation. We look forward to hearing from you.