If you own a classic car then it is quite likely that you will also possess a normal car for everyday use such as commuting to work or popping to your local supermarket. If that is the case then you will no doubt be very interested to know what is happening to car insurance premiums here in the UK.
Every quarter the well known price comparison website called Confused.com publishes its car insurance price index that details what is happening to the cost of car insurance in the UK. The most recent index published last month makes for interesting reading but we thought we would highlight some of the findings below.
The average premium for quoted for fully comprehensive car insurance in the UK in the second quarter of 2026 amounted to £719 per annum. That was a fall of an average of £39 per annum equating to a 5% drop in comparison to a year ago. Whilst that is pleasing to see it is concerning that in the last 3 months premiums have risen by an average of £8 per annum. Whilst that may seem a small figure it is the first time we have seen prices go up since around the 4th quarter of 2023 and is a little concerning especially in the current economic climate.
One of the reasons for the increase may be due to the increased cost of carrying out car repairs both in terms of parts and labour. If you look on the most recent Confused.com Car Insurance Price Index you can read some interesting figures relating to the increased amounts paid out by car insurance companies to meet claims.
There are other factors that impact how much car insurers charge their policyholders such as the make and model of car, where you live, how old you are, how many miles you drive each year and what you use your car for.
For instance, it is a well-known fact that, on average, it costs more to insure an inexperienced motorist. For example, those aged 17 to 20 pay an average of £1,813 per annum, those aged 20 to 29 an average of £1,255 per annum, those aged 30 to 39 an average of £850 per annum, those aged 40 to 49 an average of £699 per annum, those aged 60 to 69 an average of £459 per annum and those aged 70 plus an average of £482 per annum.
Those living in Inner London pay an average of £1,088 per annum to insure his or her car with this being the most expensive region in the UK. If you live in the West Midlands the average premium is 3860 per annum and if you reside in the North West premiums average £663 per annum. The cheapest region for car insurance is for those living in the South West with an average premium of £504 per annum – less than 50% of what motorists living in Inner London pay.
Whilst the above figures relate to normal car insurance, it may be that a similar pattern is seen with classic car insurance.
