If you are the proud owner of a classic car then it is quite possible that you also possess a family car that you use on a daily basis and take your cherished classic vehicle out for a drive on a weekend especially in the summer months. Therefore you will be pleased to read that yet again the average amount paid to insure a family saloon car has come down in the three months to February 2026 when compared with a year ago.
According to the Confused.com Car Insurance Price Index, the average amount motorists pay to insure their family saloon or hatchback car amounted to £711 per annum. That is a fall of £66 per annum with this equating to a drop of 9%. We are but sure that motorists will agree a reduction is welcomed at any time but especially in the current economic climate here in the UK with many people having to contain their family expenditure wherever possible.
The above index is produced on a regular basis and has been since way back in 2006 so it has certainly been around for a long time.
When you consider that the average premium paid to insure a car peaked at £995 per annum in December 2023 the latest figure published by the above index shows a significant fall.
One of the many factors that impact how much you pay to insure your car is your age. On average, it is still the younger driver who is paying more to insure his or her car than the more mature driver. For instance, an 18 year old is paying an average of £2,082 per annum that is a fall of £352 per annum in the space of 12 months. A 17 year old pays an average of £1,741 per annum with this being £517 per annum than a year ago. Compare that with someone aged between 60 to 69 paying an average of £448 per annum and a 30 to 39 year old paying an average of £850 per annum and, as you can see, there is a significant difference.
Another factor that dictates the premium paid by motorists to insure his or her motorcar is where the policyholder resides. Those living in Inner London continue to, on average, pay more for their car insurance with premiums averaging £1,093 per annum. Compare that with South Wales where premiums averaged £547 per annum and you can see a huge difference. If you live in Manchester premiums average £804 per annum.
It is also interesting to note that, on average, men pay more to insure their cars than women with males paying an average of £765 per annum and females an average of £620 per annum.
Whilst the above figures relate to car insurance premiums, it is to be hoped that there has, on average, also been a drop in the cost of classic car insurance.
