Fall in car insurance premiums

Fall in car insurance premiums

Premiums for car insurance have reportedly fallen this year but remain at variants across the UK, new statistics have shown.

The average cost for annual comprehensive insurance policy totalled £816 at the end of last month, according to the latest figures released by risk management firm Towers Watson - making now a better time than ever to explore competitive car insurance deals.

Average premiums for women fell by 3% year-on-year, reducing the cost for a comprehensive policy to £751, but women in some parts of the country are facing disproportionate increases in their car insurance costs. In Manchester and Merseyside, women have been subjected to hikes of 9.7%.

Similarly, while men saw an average decrease of 1.8% to £869, some young male drivers are shelling out in excess of £5,000 a year for comprehensive cover.

The most expensive policy came in at £5,530 for a young male driver based in the Manchester/Merseyside area, while one woman living in inner London is reportedly paying £3,181.

Copyright Press Association 2012