Overview

• The average annual premium dropped by £144 year-on-year to £757, marking an 18-month decline from the 2023 peak of £995.
• Seventeen-year-olds saw the steepest savings, with their premiums down by £775 compared to last year, though they still pay around £2,051 annually.
• Confused.com data show that prices fell by £20 in the past three months alone as insurers cope with fewer parts delays and more available staff.
• Almost 50% of motorists reported renewal quotes rising by an average of £79, underscoring that not all policyholders benefit equally.
• Motoring experts recommend shopping for quotes about three weeks before renewal to capitalize on insurers’ increased competition.