Owning houses and cars can sometimes seem like throwing money into a black hole. And there’s little respite – new research has found that car insurance premiums rose by an average of 12 per cent over the past year.
MoneySuperMarket, the price comparison site, looked at year-on-year quarterly car insurance premiums to identify overall and regional price fluctuations. The average premium paid in the first quarter of 2016 was £478, up from £428 in the same period in 2015 – a stinging £50 hike.
Drivers in Tonbridge saw premiums rise by almost a quarter (23 per cent – or £75). Drivers in Dartford, Worcester and Wolverhampton also experienced hefty year-on-year increases, with prices ballooning by a fifth. Kevin Pratt, consumer affairs expert at MoneySuperMarket, said: ‘Until 2014, British motorists benefited from a very competitive car insurance market, with prices broadly dropping year on year.
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