For the fourth quarter in a row comprehensive car insurance premiums have dropped in price, according to the latest Confused and WTW research.
The average premium fell by 3% to £834 in the fourth quarter of 2024, taking the drop for the year to 16%. This is the biggest annual percentage decrease since 2014, according to the car insurance price index.
Between July and September 2024 premiums had declined by 2% following on from shrinking 6% in Q2 and 5% in the first three months of the year.
New policy prices have been decreasing steadily for 12 months, and we’re now seeing a significant shift in prices compared to last year.
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