Premiums continue to rise
Drivers are paying an average of £767 for a typical comprehensive car insurance policy, the highest level since mid-2012 (£816), with further increases expected.
The confused.com Car Insurance Price Index Quarter 4 – 2016, powered by Willis Towers Watson, highlights how the average quoted premium for an annual comprehensive car insurance policy now stands at £767. It follows a rise of 14% during 2016, meaning motorists are paying £95 more for insurance than they did 12 months ago.
The index show third party fire (TPFT) and theft premiums have also increased to their highest level with the average TPFT now at £1,311, up 15% year-on-year.
Amanda Stretton, motoring editor at Confused.com said, ‘Prices continue to climb, it seems only a matter of time before we’re back at the £858 peak we saw in 2011.’