Women in their 60s see car insurance bills rise fastest

13 July 2015
Women aged 66 to 70 who share their car insurance with a spouse have seen their premiums rise faster over the past three months than all other UK drivers, new research shows. The average premium for an annual comprehensive policy for this group of motorists has risen by 17.5% to £220, up £33 from three months ago. The cost of the average UK car insurance policy rose 3.6% to £600 over the last quarter, according to the analysis by Confused.com. SpikeOver the past year, drivers aged 59 and above have seen the biggest spike in premiums at 7.8%, with the average premium among them reaching £384 in the second quarter of 2015, compared with £356 a year earlier. Meanwhile, premiums for the UK's youngest drivers (aged 17) have fallen to an all-time low. At £1,869 a year on average, they are now 50% less than they were in the third quarter of 2011, when they stood at £3,729. Over the past year, the cost has fallen by 6.4% and by 1.7% over the past three months. Overall, men are still paying more for their premiums across all age groups. While the cost has been rising for both genders recently, the average male driver's premium is now £627, while the female's is £566. The £61 gap between the two premiums in the second quarter has risen from £27 two years ago. On a regional basis, drivers in the East and North East of Scotland have experienced the biggest spike in premium costs across the UK, with bills rising by 9.2% over the past year. Dundee's drivers have been hardest hit, with a 15.3% bill hike. Motorists in Manchester and Merseyside and the North West region are the only ones to have seen premiums fall in price, but the dip is very marginal at just 0.5%%. End of the roadSteve Sanders at Confused.com said: "We've seen insurance premiums fall steadily over the last few years, which has been welcome news for motorists, however it looks like the end of the road for continuing price drops. "Despite enjoying a brief reprieve in the first quarter of 2015, market movements in the last 12 months suggest consumers should prepare themselves for price rises to continue for the rest of 2015. The last time we saw this sort of premium change pattern we were at the beginning of three years of consecutive comprehensive premium increases."

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