Car insurance costs rise £100 in a year - despite fall in motor fraud

October 7, 2016 | 5years | Insurance News

Car insurance premiums have shot up by almost £100 in the past year, reaching £697 on average last month.

Research by comparison site also found that the gap between the cheapest and average annual premium on the market is larger than it has ever been.

By this summer, the average car insurance premium was £697, up from £605 at the same time last year.

Though car insurance generally gets cheaper over the summer, average premiums rose from June to August by £18.

The research also found that more young drivers are being asked to pay extra because of their age.

Traditionally, only drivers under the age of 25 paid a premium of £1,000 or more, but the report said that the average premium for drivers aged between 25 and 30 is now £1,073.

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