Car insurance set to rise in 2015

Published Date: 2nd Feb 2015

The average car insurance quote is now £594, and prices are set to rise in 2015.

 

The Savings on fuel is now huge and in some places you can get it for less than £1 a litre and this could be negated by increasing car insurance premiums, which have seen their first consecutive quarterly rise since 2011.

The latest report from 2015 shows the average quote now sits at a new high of £594 – up £12 on the previous three months – there was a consistent trend of falling premiums over the last three years. Another quarterly increase would see the average premium top £600 – a total not seen since the end of 2013.

This will affect us all around the UK, with 96 out of 121 postal towns experiencing an increase in the last three months. London showed the biggest hike, at £80; Manchester and Merseyside reported the priciest insurance policy outside the capital.

Men and women have seen significant rises compared to the last quarter – up £13 and £11 respectively – while young and old drivers have also been hit, too. Those aged 17-19 have been subject to a quarterly price rise of £73, meaning their policy now costs around £2,000.

Men and women drivers aged 61 and over have experienced the greatest percentage price increase of any age group, with their premiums rising by 4.7 per cent to £342.

The report, by comparison site Confused.com in association with consultant Towers Watson, warns that policyholders should prepare themselves for further price increases over the coming months.

Steve Sanders, finance director at Confused.com, said: “While some consumers may still be experiencing year-on-year savings on their car insurance policies, these will be eroded by further price increases."