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...]
No charger, no sale, dealers told
Not having a home charger is the biggest objection dealers hear from used car buyers considering an electric vehicle. Dealers report that more than half of people (52%) mention this problem, according to May’s new Startline Used Car Tracker. Paul Burgess, CEO at Startline Motor Finance, said, “In a way, it is encouraging that this is the biggest objection … [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 26 April
Insurers have agreed to be clearer and have fairer pricing of monthly premiums as policyholders struggle with the cost of living. The Association of British Insurers say the Government could also help by reducing insurance premium tax. The average cost of petrol is now over £1.50 a litre for the first time since November, says RAC Fuel Watch. In motorway … [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...]
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...]
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 … [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 … [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 … [Read more...]
