Every month, Compare the Market compiles its Motor Snapshot which uses interactive tools to look at the cost of insurance depending on your age and where you live. Find out more in this month’s report.
The data is based on all motor insurance quotes undertaken via Compare the Market in September 2019-2020.
Head of Motor, comparethemarket.com
“Car insurance premiums are on the rise and have increased by £16 to £714 in September, from August. This follows four consecutive months of declining costs leading to premiums reaching the lowest level in four years during August. Premiums are now just £2 lower than the same month a year prior, indicating that the opportunity for cost-savings on car insurance as a result of the coronavirus pandemic may have come to an end, and the need to shop around for savings is greater.
“Premiums remain highest for younger drivers aged 17-24, who pay an average of £1,152 – a whopping £801 higher than over-65s, the age group who pay the least. That said, premiums for 17-24 year olds are still on average £80 lower than a year ago. Drivers in London are paying nearly £30 more to drive now than this time last year, possibly an indication of the greater number of cars on the road as people avoid taking public transport.”