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Car insurance costs hit two-year high

Car insurance prices have increased by £41 (5%) in 12 months, according to the latest Confused.com car insurance price index.

The group said drivers can now expect to pay £815 for a typical comprehensive car insurance policy, on average – the most expensive price in two years.

The cost of car insurance increased the most in inner London, with prices now £91 (8%) more expensive than 12 months ago. Drivers in the region now pay £1,260 for car insurance, on average, making it the most expensive region in the UK.

Women were also hit the hardest by car insurance price increases and are now paying £48 (7%) more than 12 months ago. However, men are still paying £87 more than women for their car insurance.

Amanda Stretton, motoring editor at Confused.com, said: “The bad news is car insurance costs are increasing. And, as drivers, this is something we can’t avoid. If costs continue to accelerate at this pace, we could be paying record prices by the end of this year.”

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