There are so many things that have gone up in price in the last 2 or 3 years such as mortgage repayments, council tax, utility bills and car insurance. In fact, in the 4th quarter of 2023 the cost of insuring a car hit a record level. It is quite possible that courier insurance premiums may also have hit record levels.

Well, according to the car insurance price index produced by Confused.com a few days ago covering the 1st quarter of 2024, the cost of insuring a car dropped by £54 per annum to an average of £941 per annum. That news will no doubt come as a relief to many motorists and let us hope that we have turned the corner and we continue to see the cost of car insurance reduce over the next few months and beyond.

The above index is published every quarter and it reveals that Inner London is the most expensive region to live in when it comes to how much you pay for insuring your car. The average premium in that region is £1,501 per annum. Premiums have increased by an average of £434 per annum in the space of 12 months. If you happen to live in the South West then the average car insurance premium was £606 per annum with this being less than 50% of that in Inner London. Premiums have risen by £172 per annum on average in the South West over a 12 month period.

Did you know that an 18 year old is paying an average of £3,145 per annum to insure his or her car in the 1st quarter of 2024? In some cases, that will no doubt be more than some motorists are paying each month on their car finance.

When you receive your courier insurance renewal notice from your existing insurer why not make contact with us to obtain a competitive quote. Who knows – we may be able to save you some money which, in the current economic climate, would be a good thing.