Motorists will be pleased to read that the average cost of fully comprehensive car insurance has fallen in the first quarter of 2021 here in the UK according to data published by the price comparison website MoneySuperMarket.com. We are sure that you will agree, it is great to hear some good news especially because of what many people have been going through due to the coronavirus pandemic in the last twelve months or so.
The average cost of annual fully comprehensive car insurance was £417 per annum in the first quarter of 2021. That is £68 per annum less when compared with the first quarter of 2020. In fact, it is £73 per annum less than the last quarter of 2020 when such cover cost an average of £490 per annum. Apparently, it is the lowest price for seven years.
One of the reasons why there has been a reduction in car insurance premiums in the first quarter of 2021 could be due to there being another lockdown due to the pandemic in the first few months of this year as there may well have been fewer cars on the roads as a large number of people are working from home and therefore there have been a lower number of accidents. With fewer accidents on the roads, this means that insurance companies are probably paying out less in claims.
There are numerous factors that determine how much you pay for your car insurance here in the UK. One of those is where you live. If you live in a built up area then you are more likely to be involved in a road traffic accident than if you live in the countryside. The most expensive region in the UK is East London with motorists living in this region paying an average of £870 per annum. That is more than twice the average. The cheapest region is in Kirkwall on Orkney where motorists pay an average of £256 per annum.
How old a motorist is also has a bearing upon how much he or she pays to insure their car. If you are between 20 and 24 years of age then, unfortunately, on average, you will be paying more to insure your car than another motorist with the average amount charged for fully comprehensive car insurance being £871 per annum. If you are 65 years of age or over then, on average, you are paying the least for the above level of cover – £258 per annum.
Unfortunately, there are still a number of motorists who do not bother to shop around to see if they can get their car insurance cheaper with another provider. With so many price comparison websites, it really is quick and simple to obtain alternative quotes although do bear in mind that not all car insurance companies advertise on price comparison websites. So, if your existing cover is shortly due for renewal or you are looking for cover for the first time why not shop around.
