Car insurance has risen by 17% in the last 12 months, and by 3% in the 3rd quarter of 2016 – according to the latest Confused.com / Willis Towers Watson car insurance price index.
And it’s older drivers who are seeing the biggest rises in their premiums with the average 66 year old now expecting to pay 28% more than they paid 12 months ago.
However, their average £434 premium is still significantly less than the average 17 year old has to pay. Although they have seen a modest 9% increase in their premium, they can still expect to pay a whopping £2083 for their first year of motoring.
And it doesn’t get any better for the young drivers the following year – 18 year olds have the dubious honour of having to pay the most for their car insurance with premiums of, on average, £2106.
Just 42 years later though, they’ll see their premiums plummet to well under £500. Mind you – we’ll all be swanning around in driverless cars by then and all those annoying Insurance Comparison TV Ads will be a thing of the past!.
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