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 rise in the cost of claims for … [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 for young drivers. Young drivers are … [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 for insurers. High inflation rates … [Read more...]
Young drivers’ premiums soaring to unaffordable level
The cost of car insurance for young drivers has surged by an average of £594 (50%) in the past year, according to new Young Drivers research from Compare the Market. There are concerns that driving is becoming increasingly unaffordable for many young people. Premiums for motorists aged under 24 now reach up to £1,792 in August 2023 compared to £1,198 in the same period last year. As a result of … [Read more...]
Learners facing bills over £11,000 to get motoring
New drivers are the latest to face the brunt of the cost of living crisis. Research from CarMats.co.uk reveals £11,375 is the average price tag for those learning to drive and purchase a car in 2023. New drivers are expected to pay over £11,000 before even getting on the road. According to the RAC, it will take the average learner 45 hours of driving lessons to pass their driving … [Read more...]
Is your job working against you?
GoCompare has pulled together a list of occupations that have the cheapest and most expensive average premiums. Using the average best price available for each job occupation, the comparison service has revealed who is paying the most - and the least for their insurance. The ten professions paying the most for car insurance are: Occupation Average premium Fast food delivery … [Read more...]
Newslines 3 March
Isuzu UK has added JT Hughes Group to the dealer network in Newtown, Shrewsbury and Telford. The Shropshire and Mid-Wales based car retailer opened the new Isuzu franchise at the beginning of this month and hopes to grow its existing client base with the new range of Award-Winning pick-ups. The average price of petrol yesterday topped 152p a litre for the first time ever and diesel also reached … [Read more...]
Premiums dip before expected rise this month
Insurance premiums hit a seven year low at the end of 2021. The average annual car insurance premium declined by £80 year-on-year in Q4 (September – November), according to the latest Premium Drivers research from comparethemarket.com. The average premium is now £640, compared to an average of £721 for the same three-month period in 2020. The decline in the insurance prices also means this is … [Read more...]
Premiums dip to new low but expect rises
The average annual car insurance premium has dipped slightly to £602 in March 2021. This marginal decline from the previous month suggests the end of the big price falls and the average premium is still £110 cheaper than the same month last year. Dan Hutson, head of motor insurance, comparethemarket.com said,“The rapid fall in car insurance premiums, seen during the winter, appears to have come … [Read more...]
Newslines 16 February
Conservative Senedd members have criticised the nationalized Transport for Wales planned 2.6% rail ticket price rise. The increase from 1 March is in line with plans for English railways but has not been discussed in the Senedd and a statement from the Welsh Conservatives said it was hypocritical of TfW and shocking for passengers. British drivers are paying the lowest premiums for six years, … [Read more...]