{"id":241987,"date":"2023-10-18T00:49:05","date_gmt":"2023-10-18T00:49:05","guid":{"rendered":"https:\/\/automotobuzz.com\/?p=241987"},"modified":"2023-10-18T00:49:05","modified_gmt":"2023-10-18T00:49:05","slug":"car-insurance-at-record-high-as-average-premium-reaches-924","status":"publish","type":"post","link":"https:\/\/automotobuzz.com\/car-reviews\/car-insurance-at-record-high-as-average-premium-reaches-924\/","title":{"rendered":"Car insurance at record high as average premium reaches \u00a3924"},"content":{"rendered":"

Year-on-year rises reach 61 per cent in London, while insurers protect profit margins at the expense of drivers<\/h2>\n


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A 19 per cent rise in the third quarter of 2023 has seen the average price of a car insurance premium hit a staggering new record high of \u00a3924, according to new data released by comparison sales site Confused.com.<\/p>\n

Prices have rocketed by an average of 58 per cent or \u00a3338 compared to this time last year, the company claims, which is the highest annual rise since it started tracking premium prices in 2006.<\/p>\n

The comparison website\u2019s Insurance Price Index is based on more than 6m individual quotes generated in the last quarter, and gathers data on comprehensive premium prices. The brunt of the shocking rises are being felt across the board, but younger drivers are suffering the most, with 18-year-olds paying an average of \u00a32,995 for an annual policy, which is a rise of 89 per cent (or \u00a31,414) in the last 12 months.<\/p>\n