Credit, collections & insolvency news
The cost of car insurance has fallen by £72 (-8%) year-on-year, according to new research from Compare the Market. The average premium declined to £776 in September 2024, compared to £848 in September 2023. August 2024 and September 2024 were the first months where car insurance premiums have been cheaper than the same period in…
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A new report by Go.Compare car insurance has revealed that the average cost of car insurance is now £456, up 2% from the previous quarter (£447). The comparison website’s latest price index has revealed that compared to the same period in 2023, the average cost of car insurance is up 23%, from £371 to £456.…
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Motor insurance premiums have increased by over a fifth in the past year, despite a 2% dip in average prices in the second quarter of this year. The average cost of car cover fell to £622 from a record high of £635 in the previous quarter, but remained 21% higher than the same period last…
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Go.Compare car insurance has released new data showing that car insurance costs are beginning to fall, with the average insurance premium now at £447. The research showed that the average cost of car insurance fell by £18 in the last quarter – from £465 to £447 – prices are still up on 2023 figures, with the…
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The cost of car insurance has risen by 18% year on year, according to new research from Compare the Market. The typical premium stood at £850 in May 2024 after rising by £132 over the previous 12 months. The increase in the cost of car insurance in the past year may in part be due…
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Car insurance premiums for newly qualified young drivers have reached an all-time high of over £3,000, according to analysis by Compare The Market. The average premium for a 17-year-old who has just passed their driving test is now £3,075, compared to £2,004 last year. The rise in premiums is attributed to parts shortages and an…
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Members of the Association of British Insurers (ABI) have committed to new steps to try and manage the amount that those paying monthly for their motor insurance and are charged for the benefit. The ABI set out the steps that the industry is taking to combat the rise in the cost of motor insurance at…
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The cost of car insurance for young drivers has jumped by £644 on average in the past year, according to new Young Drivers research from Compare the Market. Car insurance premiums for motorists aged under 25 have reached £2,009 in January 2024, compared to £1,365 in the same month last year. Insurance now represents 66%…
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Motor insurance customers who buy cover monthly can end up paying hundreds of pounds more than those who pay for policies annually, Which? research has found, as the consumer champion calls on the Financial Conduct Authority (FCA) to produce an action plan to tackle the issue. Which? used sales data from GoCompare to find the average difference between prices…
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