Good news – Car insurance premiums have fallen for yet another quarter according to a car insurance price index produced by a leading price comparison website – Confused.com.

In the 4th quarter of 2024, the average amount paid by motorists in the UK to insure their vehicles amounted to £834 per annum. That is a drop of £161 per annum (16%) when compared to 1 year ago and a fall of £27 per annum (3%) in comparison to 3 months ago. We are sure you will concur these are sizeable falls and will be welcomed by drivers especially in the current economic climate here in the UK.

However, it should be borne in mind that the average cost of car insurance is 33% more than it was 24 months ago.

Whilst the above index relates to car insurance it is quite possible that reductions have also been seen when it comes to courier insurance.

Did you know that a motorist’s age has a huge bearing upon how much an insurer charges to provide cover? For instance, on average, an 18 year od pays an average of 32,605 per annum, a 23 year old an average of £1,566 per annum and a 45 year old an average of £799 per annum. One of the reasons for this is that a young driver is more likely to be involved in a road traffic accident than the more experienced motorist.

Where a driver lives also makes a significant difference in how much an insurance company charges a motorist to insure his or her motor vehicle. Inner London is, on average, the most expensive region to insure a car with premiums averaging £1,308 per annum. That is £299 per annum lower than a year ago. If you live in the West Midlands, the average premium is £1,015 per annum. The cheapest region is the South West with drivers paying an average of £558 per annum.

The reasons why Inner London is the most expensive region to insure a car may be because the number of cars is more dense so you are more likely to be involved in a road traffic accident and also to have your vehicle stolen.

Whilst writing, why not get in touch with us to obtain a competitive courier insurance quotation without any obligation. We provide access to a reputable panel of insurers.