Every quarter, the well-known price comparison website Confused.com publishes its car insurance price index that takes into account millions of car insurance quotes providing an indication of how much it costs to insure a car here in the UK. The latest report has just been published and that reveals a large increase in premiums. In fact, premiums have, on average, reached an all-time high.

In the 3rd quarter of 2023, the average amount paid to insure a car here in the UK amounted to £924 per annum. This figure is £148 more than in the previous quarter and £338 greater than the average amount paid 12 months ago.

Whilst the index refers to car insurance quotations it is quite likely that the amount paid by people to insure their courier vans has also increased. We are sure that courier drivers will agree this is an increase that they could do without at what is a difficult period from a financial perspective for many people and businesses.

If you are a young motorist then you are likely to be paying more on average than a more mature driver as you are a greater risk to an insurance company as you are more likely to be involved in a road traffic accident. For instance, a 39 year old paid an average of £989 per annum whereas an 18 year old was charged an average of £2,995 per annum to insure his or her car.

The above index also revealed that if you happen to live in Inner London you are, on average, paying more for your car insurance than anywhere else in the UK with premiums averaging £1,503 per annum. This is £567 per annum more than what you would have paid in the 3rd quarter of 2022. If you happen to live in Manchester or Merseyside then the average premium charged in the 3rd quarter of 2023 was £1,154 per annum with this being £417 per annum more than for the same quarter of last year.

We have mentioned it on a number of occasions in the past but you really ought to shop around if you are looking for courier cover as there are numerous providers of such insurance offering cover at varying premiums. In this respect, why not get in contact with us to obtain a competitive quote. We look forward to hearing from you.