Every quarter, Compare the Market compiles its Motor Snapshot which looks at all things motor insurance. Our interactive tools look at the cost of insurance depending on where you live, your age, employment status, gender, as well as the premiums for the most popular cars across the UK.
The data is based on all motor insurance quotes undertaken via Compare the Market in Q4 2019.
Head of Motor, comparethemarket.com
“Motor insurance is one of the few products where it seems that those that can afford it the least pay the most. The latest data from comparethemarket.com’s motor snapshot finds that the average premium for drivers aged 16 – 24 currently stands at £1,217 compared to just £463 for 45 – 54 year olds. As you get older, the cost of cover drops significantly. Equally, those who are unemployed pay an average of £1,113 compared to £704 for someone who is employed.
“The reason is that insurers base their prices on a wide range of factors which indicate how likely you are to make a claim. Young people are significantly more likely to crash their car than older people as they have less road experience meaning that the premium will be higher. It is essential that those paying such large sums for insurance shop around and look for better deals.
“Three brands, Ford, Vauxhall and Volkswagen, continue to dominate the list of most popular cars in the UK accounting for the top six cars on the list. The three car makers account for nearly 25% of all enquiries to comparethemarket.com, with Ford holding the first and third spots with the Fiesta and Focus. In addition, the Vauxhall Corsa and Astra hold the second and fourth spots while the Volkswagen Golf and Polo sit at fifth and sixth. These cars have consistently been at the top of the list of most popular cars for some time and show no signs of going anywhere.”