Car Insurance Premiums Increase by £106 – Drivers Warned to Shop Around

Are you a driver who has recently renewed your car insurance policy? If so, you may have noticed that premiums have increased by an average of £106 this year. According to price comparison experts at confused.com, the average cost of motor insurance for all drivers has jumped to £882, with some young drivers now paying almost £4,500 a year.

The latest data also reveals a gender price gap of £153, with men paying an average of £939 compared to £786 for women. The West Midlands has been identified as the most expensive region outside of London, with average prices now at £1,082 following a £142 increase year-on-year.

Louise Thomas, a car insurance expert at Confused.com, acknowledges that car insurance prices have been a significant burden for drivers for some time. While prices are starting to drop, chances are you will still be paying more now than compared to last year. Thomas offers some tips and tricks to help bring costs down further, such as being accurate with mileage, considering a higher voluntary excess, and paying annually for cover instead of monthly to avoid interest charges.

One key piece of advice from Thomas is to never accept your insurer’s renewal quote without looking elsewhere first. Price comparison sites are a great way to check whether you’re getting the best deal. So, if you’re feeling the pinch of rising car insurance premiums, it may be time to shop around and see if you can find a better deal. After all, saving money on car insurance means more money in your pocket for other things.