‏‏ Car insurance costs are rising for older drivers and in some parts of the UK, figures show - Mobilyardim

Car insurance costs are rising for older drivers and in some parts of the UK, figures show

Typical car insurance premiums started rising for some age groups and in some parts of Britain towards the end of last year, analysis shows.

Overall, between August and November 2021, average costs fell 0.6% to £782, according to Consumer Intelligence.

However, prices for some geographic areas and for older drivers started to rise.

The average premium is still 20% below a peak reached in 2017, with fewer cars on the road during the corona measures, which has helped to keep insurance costs generally low.

A price change came into effect at the beginning of this year, meaning insurers are now required to offer renewal customers a price no higher than they would pay as a new customer.

This put an end to ‘price walking’, with companies raising prices for loyal customers year after year. But those who shop around regularly may notice that the savings on offer are smaller.

The survey found that the average annual premium for over-50s increased by 0.6% in the three months to November. For the 25 to 49 year olds there was a slight decrease of 0.5% in the same period, while for the young people under 25 a sharper price decrease of 2.5% was recorded.

The annual cost of car insurance has been estimated at £1,717 for those under 25, £580 for those aged 25 to 49 and £350 for those over 50.

In the three months to November, average motor insurance prices rose in Scotland (by 1.8%), the East Midlands (0.6%), East England (0.6%), and Wales (0.2%), according to the report. Consumer Intelligence.

But compared to a year earlier, average premiums had fallen across all UK regions, it added.

London-based drivers (£1,261) continued to be the most expensive to insure on average, with the North West of England (£1,104) in second place.

The South West of England (£468) turned out to be the cheapest place to live when buying car insurance.

Here are the auto insurance price changes between August and November 2021 and the average premium in November 2021, according to Consumer Intelligence:

– Scotland, 1.8%, £516

– East Midlands, 0.6%, £688

– East England, 0.6%, £581

– South East, minus 1.0%, £759

– Wales, 0.2%, £510

– Southwest, minus 1.0%, £468

– West Midlands, minus 2.1%, £781

– Northeast, 0.0%, £676

– Yorkshire and the Humber, minus 1.7%, £712

– Northwest, minus 1.3%, £1,104

– London, minus 1.6%, £1,261

Like it? Share with your friends!