Are you paying too much for your car insurance?

Cheap car insurance specialists prudentplus.com have revealed that car Insurance premiums have steadily been increasing year on year since 2012 and now stand at an average of £429 a year for 2016; this is a 10% rise year on year for Q1. Some statisticians place that figure even higher at £767. It is more important than ever to ensure you know what factors may be pushing your car insurance up.

Age is one of the most well-known factors that affect your car insurance premium, but unfortunately that cannot be controlled. The average premium for a 18-20-year-old is £972 which steadily decreases with age up to 66-70 years old. 66-70 year olds have the lowest annual car insurance at just £241 per year. This is a 303% increase for younger drivers, whereas the difference in claim amounts is only 120% showing a clear disparity in pricing.

The highest increase in car insurance premiums fall in Scotland and the Highlands where they have increased by 21% over the last year. There are other discrepancies across the county for example the Borders pay the least for car insurance at £547 a year and Londoners are paying a staggering £1260 a year; which is 130% more! The largest decrease in average price fell to Central and North, where motorists have been lucky enough to see a £13 a year decrease (2%). Some areas have been getting a worst deal year on year, with Bradford and Uxbridge having seen their premiums double over the last 10 years.

Car Insurance premiums have steadily been increasing year on year since 2012 and now stand at an average of £429 a year for 2016; this is a 10% rise year on year for Q1. Some statisticians place that figure even higher at £767. It is more important than ever to ensure you know what factors may be pushing your car insurance up.

Age is one of the most well-known factors that affect your car insurance premium, but unfortunately that cannot be controlled. The average premium for a 18-20-year-old is £972 which steadily decreases with age up to 66-70 years old. 66-70 year olds have the lowest annual car insurance at just £241 per year. This is a 303% increase for younger drivers, whereas the difference in claim amounts is only 120% showing a clear disparity in pricing.

The highest increase in car insurance premiums fall in Scotland and the Highlands where they have increased by 21% over the last year. There are other discrepancies across the county for example the Borders pay the least for car insurance at £547 a year and Londoners are paying a staggering £1260 a year; which is 130% more! The largest decrease in average price fell to Central and North, where motorists have been lucky enough to see a £13 a year decrease (2%). Some areas have been getting a worst deal year on year, with Bradford and Uxbridge having seen their premiums double over the last 10 years.

Data sources:

ABI average motor insurance premium tracker Q1 2016 data
What's in a job title? Footballers and racing drivers most expensive for car insurance, while nurses are cheapest - thisismoney.co.uk
How job titles can affect your car insurance premiums by up to 25pc - http://www.telegraph.co.uk
moneysavingexpert.com
Confused.Com - Car Insurance Price Index Q1 2017 - The most comprehensive analysis of car insurance pricing in the UK.

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