Premiums plummet during Covid crisis
- Posted by: Alan Feldberg
- Category: News
Car insurance has fallen 8.4% in the last year, with the average policy now £779 a year.
According to data released by Consumer Intelligence, those aged between 25 and 49 saw the largest decrease with an average drop of 8.8%. The under 25s saw a fall of 8.4% while the over 50s saw premiums decrease 7.9% in the last 12 months.
It’s research has found that telematics has been a key downward driver of prices, with 20% of the five cheapest quotes for those aged 25-49 coming from telematics companies, and eight per cent of the five cheapest quotes for the over 50 age category.