Premiums for car insurance driven down

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The cost of car insurance is falling after years of steady rises.

Average annual comprehensive insurance in spring (April to June) this year was £797 – a 7.1 per cent dip on the spring 2011 figure, according to a survey by Confused.com and professional services company Towers Watson.

But despite the fall, men on average are still paying £110 more than women on their car insurance.

Biggest winners from the fall in prices are the elderly, with drivers aged 71 or more not only paying the least (£426 a year) but also enjoying the biggest year-on-year dip – 8.8 per cent.

There were also big falls in the amount young drivers have to pay, but at £2,491 the price of comprehensive insurance for a 17-20 is higher than for any other age range.

The price for these novice drivers also varies depending on where they live and what sex they are.

The average price for 17 to 20-year-old male drivers in Manchester/Merseyside is £5,394, yet male drivers in this age range in Central Scotland pay a more modest £2,999. Women aged 17 to 20 are quoted £1,878 on average for comprehensive insurance.