MoneySuperMarket has released its latest analysis of motor insurance premiums, and the numbers point to sustained low levels.
According to the comparison site’s internal car insurance enquiries data, the average cost of comprehensive car insurance in the UK in the second quarter of this year stood at £417.13. The figure is only 0.02% higher than the corresponding amount in the January to March period, and 12% lower compared to the Q2 2020 average.
Here’s the regional breakdown from MoneySuperMarket:
|
Region |
Average cost of comprehensive policy in Q2 2021 |
Difference from Q1 2021 |
|
East |
£360.84 |
-2.0% |
|
East Midlands |
£392.02 |
-1.4% |
|
London |
£594.88 |
-2.1% |
|
North East |
£384.81 |
1.4% |
|
North West |
£489.69 |
0.6% |
|
Northern Ireland |
£456.86 |
4.9% |
|
Scotland |
£319.73 |
-1.4% |
|
South East |
£350.38 |
-0.4% |
|
South West |
£294.90 |
1.3% |
|
Wales |
£336.13 |
-1.1% |
|
West Midlands |
£483.32 |
0.6% |
|
Yorkshire and the Humber |
£451.05 |
0.3% |
“Our research displays how often car insurance costs fluctuate, and how where you live can impact whether prices go up or down every few months,” commented MoneySuperMarket’s car insurance spokesperson Kate Devine.
“Younger drivers, specifically those under the age of 19, have seen the biggest change with premiums down by £51.25. This comes after a drop of nearly £300 in Q1, and suggests that the decline in driving tests and new drivers may still be pulling prices down within this age bracket. This is a trend that could reverse as the number of people passing their test increases.”
It was noted that the 17-19 age group saw a 10.2% decline in average premiums. Meanwhile the only bracket that had an increase was the 40s group, at 0.9%.
Devine – who said motorists switching through MoneySuperMarket will receive as much as £150 in money-off vouchers – added: “We always advise that drivers shop around for car insurance in order to get the right policy for their needs, at the best possible price.”
