Comprehensive car insurance premiums fell by 3% in the last three months taking the annual decline to 16%, according to research by Confused and WTW.
The latest quarterly drop took the average price in May to £757, the lowest point in two years. It also meant premiums have now fallen by £238 or almost a quarter (24%) since prices peaked at £995 in December 2023.
Drivers aged between 17 and 19 experienced the greatest price falls compared to other age groups. The cohort benefited from the biggest drop in prices in more than 10 years, with a substantial 27% annual price decrease, reducing their premiums by £775 to £2,051.
The Confused.com Car
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