London motor premiums highest in the country
London motor premiums are the highest in the country, with new analysis from Go.Compare showing insurance prices nationwide are rising again.
It has reported that average prices rose three per cent from third to fourth quarter of 2024, increasing from £437 to £450.
However, despite this rise average premiums remain three per cent lower than they were in the same period of 2023.
Its price index found that the cheapest premiums available are third party fire & theft policies for an average price of £440, with comprehensive policies averaging £450 and third party only polices costing an average of £588.
London motor premiums rising
Meanwhile, drivers in London are paying the highest average premiums at £642 compared to the £365 motorists in Wales on average.
Tom Banks, spokesperson, said:
“The cost of car insurance rising once again really isn’t going to be welcome news for drivers, especially as they continue to feel the effects of the cost of living crisis on their household finances.
“It is good to see prices have fallen three per cent overall in the last year, but understandably, it’s important to consumers that they are still making savings where they can and getting a policy with everything they need for the best price. Being aware of the factors which could impact your premium is a good place to start, whether that is your location, age or mileage – although these aren’t always things you can change.”
