Average motor premiums up 4.6%

The average motor insurance premium rose 4.6% in the year to August, according to market analysis from Consumer Intelligence.

However, the same report also states that premiums for under-25’s are down 5.5% thanks to blackbox or telematics technology in cars.

The data, which is used by the government’s Office for National Statistics in official inflation figures, showed that older drivers are now paying more.

Over-50s saw their average premiums up 8.6% while they were up 7.4% for those aged 25 to 49 and although younger drivers have seen their premiums fall, they are still paying more than any other group.

The average of the cheapest five premiums for all motorists was £696 in August, while the average cheapest premiums for under-25s was £1,680.

The average cheapest for drivers aged 25-49 was £481, and for over 50s was £258.