Car insurance premiums fall by 19%

10 April 2014

The cost of insuring your car is at a four-year low, with a record 19% drop in average premiums over the last 12 months.

The average price drivers were forking-out for comprehensive cover in the first three months of 2014 was £596, down from £736 this time a year ago, according to

It's the first time since late-2009 premiums have fallen below £600, with reductions across every age group. There was even better news for first-time drivers, with average premiums falling from £3,587 to £2,203 for 17-year-olds.

Both men and women have also seen year-on-year drops of 17% and 22% respectively. Men paid £621 in the first three months of the year - down from £748, while women paid £565, down from £721.

Car insurance expert Gemma Stanbury at said while it is great news premiums are continuing to fall, the trend is unlikely to continue.

"These ongoing drops in car insurance prices are unlikely to be sustained - we've seen premiums falling continuously over the last couple of years, so motorists should not necessarily expect prices to continue dropping at this rate."

To take advantage of lower prices, it's more important that motorists don't accept the renewal price their current insurer offers when their existing policy expires. Instead shop around for a better price.

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