Connect with us


Coronavirus pandemic is pushing down cost of car insurance for millions of motorists

THE pandemic is driving down the cost of car insurance for millions of motorists, a report says.

Covid has meant less traffic on the road, leading to fewer accident claims.

🦠 Read our coronavirus live blog for the latest news & updates

The cost of car insurance has decreased during the coronavirus pandemic


The cost of car insurance has decreased during the coronavirus pandemicCredit: Alamy

It has pushed down premiums by an average of 2.5 per cent over the past six months.

And they are likely to remain in check as restrictions stay in place for the next few months.

Harriet Devonald, product manager at Consumer Intelligence which compiled the report, said: “We are currently seeing premiums decreasing in all our age groups and across every UK region.”

Car insurance costs have steadily risen 21.8 per cent since 2013 but the pandemic means there is a fifth less traffic about.

Drivers now pay an average premium of £816 a year, according to the report.

The latest falls, however, only partly offset rises immediately before the pandemic so premiums have fallen by just 1.1 per cent over the past 12 months.

The under-25s benefited most, with an annual cut of 1.9 per cent, ahead of drivers aged 25 to 49 (down one per cent) and the over-50s (down 0.8 per cent).

London drivers, however, have been hit by average rises of 3.8 per cent in the past year.

The youngest drivers still pay the highest annual premiums at an average of £1,954, while the over-50s typically pay £370.

However, premiums are down more than ten per cent from a September 2017 peak.

Brits warned of changes to holiday insurance and mobile phone charges after Brexit

GOT a story? RING The Sun on 0207 782 4104 or WHATSAPP on 07423720250 or EMAIL [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

twenty − 3 =