Confused.com Car Insurance Price Index Q4 2024

We are pleased to bring you the fourth quarter 2024 edition of the Confused.com Car Insurance Price Index in association with WTW.

Comprehensive car insurance premiums have decreased by 16.2% (£161) during the last 12 months, according to the longest established and most comprehensive car insurance price index in the UK. The index is based on price data compiled from over six million customer quotes per quarter.

This is the biggest annual percentage decrease since 2014 and follows a two-year-long upward trajectory in prices from 2021 to 2023.

The latest headlines include :

• The average UK premium now stands at £834, having fallen by 16.2% (£161) in the last 12 months, which is the biggest annual percentage decrease since 2014.
• Premiums have now fallen for the fourth quarter in a row and on average by 3.2% (£27) in the last three months.
• The West Midlands replaces Manchester/Merseyside as the most expensive region outside of the capital, despite average premiums falling by 17% during the last 12 months and now costing £1015.
• Drivers aged 18 saw the greatest price fall compared to other age groups with an annual price drop of £557 reducing their average premiums to £2,605.

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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 .