NEW figures show that the average cost of car insurance premiums fell for young drivers, but increased for those over 30.
The report by MoneySuperMarket analysed 1.7m car insurance quotes to track changes in price.
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It found that, while car insurance prices had fallen overall since 2018, only younger road users were feeling the benefits.
Drivers aged 17 to 19 have seen their insurance drop by four per cent on average since 2018, leaving them £41 better off.
In fact, the report claimed that the average premiums for all age groups under the age of 30 had fallen in the same period.
But, premiums have gone up in the last year for drivers over 30 – and the older you are, the worse it gets.
Those aged 30 to 39 have only seen a one per cent rise in the last year, but those over 65 have had their prices go up by six per cent.
How much have car insurance prices changed?
BASED on your age, you could be seeing a welcome drop or a significant hike in the price of your car insurance compared to this time last year.
- Aged 17 to 19 – Four per cent drop
- Aged 20 to 24 – One per cent drop
- Aged 25 to 29 – Two per cent drop
- Aged 30 to 39 – One per cent rise
- Aged 40 to 49 – Five per cent rise
- Aged 50 to 64 – Five per cent rise
- Aged 65+ – Six per cent rise
And, both the 40 to 49 and 50 to 64 age brackets saw a five per cent increase, working out as a nearly £20 price hike for some road users.
Young drivers do still have the most expensive premiums, though, with the average 17 to 19 year old paying £991 for their policy.
That’s over double the average policy price which, according to MoneySuperMarket, is currently £459.
The report also showed which areas of the UK had seen the biggest changes in their premium prices.
Drivers in London’s West End were the worst hit, experiencing a 28 per cent rise compared to 2018.
But, motorists in Llandrindod Wells, Wales are in luck, their car insurance prices fell by almost a third in the same period.
East London has the country’s most expensive average premium at £914, while the Isle of Man comes in last at just £265.
You can use MoneySuperMarket to check and compare your car insurance price.
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