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Car insurance price hikes 'substantial to say the least'

Published 09/07/2016

Car insurance costs are rising
Car insurance costs are rising

Motorists have been hit with the biggest annual car insurance price hike in five years, according to new research.

Premiums rose by an average of 19% over the past 12 months, price comparison firm Confused.com found.

This means d rivers are now paying £715 on average, compared to just £600 this time last year.

It is the fastest 12-month increase in prices since 2011.

Drivers aged 61 have faced the steepest rise, with premiums up 24%.

Younger drivers have been less affected, with prices increased by just 8% for 17-year-olds. But this is still enough to push their premiums over the £2,000 mark to £2,013.

Amanda Stretton, motoring editor at Confused.com, said: " We've not seen price rises of this magnitude for five years - a 19% annual increase is substantial to say the least. And these price rises are being felt across the board, for drivers of all ages and genders, across all UK regions.

"If prices continue to rise at the rate we've been seeing, we could be facing the possibility of average comprehensive premiums breaching the all-time high seen in 2011, when they peaked at £858.

"This, combined with rising fuel prices and increased motoring costs across the board, could result in a sizeable dent in drivers' pockets."

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