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Confused.com Car Insurance Price Index Q2 2024

In association with WTW

August 1, 2024

The Index monitors car insurance price trends in the UK. It is compiled from anonymous data and uses the average of the five cheapest quotes received in response to all enquiries on Confused.com.
Insurance Consulting and Technology
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We are pleased to bring you the second quarter 2024 edition of the Confused.com Car Insurance Price Index in association with WTW.

Comprehensive car insurance premiums have fallen by 6.3% (£59) between April and June 2024, with UK motorists now paying £882 on average for their car insurance.

Following a two-year-long upward trajectory in prices, car insurance premiums have now decreased for two consecutive quarters following an initial price fall of 5.4% (£54) in the first three months of 2024. At the same time, although the data shows a fall in prices during the first six months of 2024, car insurance premiums still recorded an annual rise of 14% (£106).

The latest headlines include

  • The average UK premium now stands at £882, having risen by 13.7% (£106) in the last 12 months.
  • However, premiums have now fallen for the second quarter in a row and on average by 6.3% (£59) in the last three months.
  • Prices for 20-year-olds fell the most over the past three months, with premiums now 9.1% (£227) cheaper, taking their annual premiums to a still eye-watering £2,259.
  • Drivers in the North West saw the largest percentage decrease in the cost of comprehensive car insurance, with a quarterly fall of 8% with average premiums now costing £819.

To request a copy of the quarterly results and to be added to the list for future mailings, please complete the form.

13.7% Increase in premiums in the last 12 months.

6.3% Average uk car insurance prices fell for the second quarter in a row.

Subscription services

A subscription service is available, disclosing the results of this analysis for comprehensive motor insurance at a much more granular level and on a monthly basis, thereby providing a deep insight into market price movements.

  • This offers subscribers a detailed summary of average premiums by factor and geography with the structure and parameters of a multiplicative market model.
  • The service is available to organisations that are not currently Confused.com partners and is identical for all subscribers.
  • No analysis of individual insurance providers’ prices is possible. The Index is compiled using anonymous customer data.

If would like to know more about the monthly index subscription service and how to subscribe, please email Anneliese Bedwell.

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