The cost of car insurance for a 17-year-old motorist who has just passed their driving test has reached £3,075 on average, according to new research from Compare the Market. This is a substantial £1,071 increase, or 53%, in the typical cost of car insurance for a 17-year-old from last year's £2,004. The average cost of car insurance for a driver with a … [Read more...]
It’s getting cheaper to run an ev
The typical annual running cost for an electric vehicle is now £525 cheaper than a petrol car on average, according to new research from Compare the Market. The research looks at middle-aged drivers aged between 45 and 54 years old as an example to showcase the difference in Electric Vehicle premiums compared to petrol fuelled cars. The research, which … [Read more...]
Newslines 15 April
The magnificent new Rolls-Royce Spectre has joined the stable of superb exoticars at Auto Vivendi. This came hot on the heels of their striking new Lamborghini Huracán Sterrato and McLaren Artura and still more highly desirable models are being added this year. Drivers typically save up to £46 paying for their annual insurance premium in a lump sum rather … [Read more...]
Premiums jump 46% year to date for drivers
The cost of car insurance has increased by 46% year on year, according to new Premium Drivers research from Compare the Market, and young drivers are seeing the biggest jump. The typical premium stands at £892 in February 2024, after rising by £279 over the previous 12 months. The substantial increase in the cost of car insurance may in part be due to a … [Read more...]
Young drivers hit by automatically bigger premiums
The cost of car insurance for young drivers has jumped by £644 on average in the past year, according to new Young Drivers research from Compare the Market. Car insurance premiums for motorists aged under 25 have reached £2,009 in January 2024, compared to £1,365 in the same month last year. Car insurance now represents 66% of the total car running costs … [Read more...]
Essential to build NCDs, says broker
Car insurance premiums decrease by £745, a drop of almost a third (32%), after one year of no claims discount, according to Compare the Market. When drivers come to renew their policy, those who have not made a claim on their car insurance can typically receive a no claims discount, or no claims bonus, from a number of insurance providers, with the discount … [Read more...]
Insurance premiums escalating to average £950
Motorists are facing a substantial 52% increase in the cost of car insurance, according to new Premium Drivers research from Compare the Market. The typical premium stands at £950 at the end of December 2023 after rising by £326 over the previous 12 months. The significant rise in the cost of car insurance may in part be due to a rise in the cost of claims … [Read more...]
EVs being priced out of reach for many, says analysis
The cost-of-living crisis is causing a drop in demand for electric vehicles as these cars are typically more expensive than petrol equivalents, according to Compare the Market comparison site. Sales of new electric cars have declined by 17.1% year-on-year in November according to figures from the Society of Motor Manufacturers and … [Read more...]
Soaring premiums for young drivers – Compare the Market
The cost of car insurance for young drivers aged 17-24 has typically risen by £658 year-on-year, according to new research from Compare the Market. Annual car insurance cover for young drivers now costs £1,929 on average compared to £1,271 in 2022. Most young drivers are concerned that driving is becoming unaffordable. More than seven in ten drivers aged … [Read more...]
Insurance warning for floods
Heavy rainfall from Storm Ciarán means flooding could be a worry for parts of the UK this week. Drivers should be aware that flooding can cause serious damage to cars and that not all types of car insurance will cover it, said Julie Daniels, motor insurance expert at Compare the Market. “You may be able to claim for flood damage if you have comprehensive … [Read more...]
