In the current economic climate it would be great to receive some positive news. So, you may be interested to read that the average cost of insuring a car has fallen once again.
According to the Confused.com Car Insurance Price Index, the average amount paid by motorists in the first couple of months of 2025 amounted to £777 per annum. In March 2024, the average premium was £941 per annum so that is a drop of £164 per annum – no small sum of money. That is a reduction of 17%.
In the 4th quarter of 2024 the average premium was £834 per annum so average premiums have dropped by £57 per annum in a short space of time. That is a 7% reduction.
These figures are for standard car insurance but it is quite possible that there has also been a drop in the cost of insuring a classic car. In any event, it is quite possible that if you own a classic car you may also possess a family saloon car.
You may be aware that there are an awful lot of things that insurers take into account when deciding how much to charge you to insure your car such as the make and model of the car, where you live and your age to name but a few.
Inner London is still the most expensive region in the UK to live as far as car insurance is concerned with premiums averaging £1,208 per annum. However, premiums have fallen by £293 per annum in the space of 12 months. Compare that with the South West with premiums averaging £532 per annum – a drop of £74 per annum compared with 12 months ago. That is a fall of 12%. Presumably you are more likely to either have your car stolen or be involved in a road traffic accident if you reside in Inner London.
It is the young motorist who tends, on average, to pay more to insure their car with an 18 year old paying an average of £2,434 per annum. A year ago, the average premium for an 18 year old was £711 per annum more than that figure. A huge drop.
Whether you are looking for classic car insurance for the first time or your existing cover is coming up for renewal, why not get in contact with us to obtain a no-obligation, competitive quotation.
