The Index monitors car insurance price trends in the UK. It is compiled from anonymous data and uses the average of the five cheapest quotes received in response to all enquiries on Confused.com.
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About the Car Insurance Price Index
The Confused.com Car Insurance Price Index in association with Willis Towers Watson monitors car insurance price trends in the UK, with summary results published quarterly. All figures quoted are for comprehensive cover.
The Index is compiled from anonymous applicant data and uses the average of the five cheapest prices received in response to all enquiries on Confused.com, one of the UK’s leading comparison sites.
The Index is one of the longest established in the industry, having collected data on pricing trends since the final quarter of 2006. Moreover, millions of new quotes contribute to each quarter’s findings. This makes it the most comprehensive current insight into price trends, particularly as it is focused on the dominant price comparison channel.
We are pleased to bring you the first quarter 2022 edition of the Confused.com Car Insurance Price Index in association with WTW.
Consistent with the recent general rise in the UK cost of living, car insurance prices rose for the second quarter in a row in the first quarter of 2022.
Set against recent price rises in the likes of energy and petrol, the increase in the cost of car insurance pales by comparison. Nonetheless, insurers will need to be conscious that the £20 increase to the average comprehensive premium in the UK is a further hit to consumers’ pockets and is likely to encourage more price comparison and shopping around on renewal.
The latest headlines include:
Average prices rose by 3.8% in the first quarter.
On an annual basis, prices have risen by 2.2%, or £12.
The average UK premium, as of the end of March, stood at £550.
17-year-old drivers were the only age group to see a quarterly decrease in premium.
Stockport had the distinction of being the only postcode area in the UK where drivers received a price decrease in the quarter.
To request a copy of the quarterly results and to be added to the list for future mailings, please complete the form.
3.8%
rise in prices the first quarter of 2022.
2.2%
price rise over the last 12 months.
Subscription services
A subscription service is available, disclosing the results of this analysis for comprehensive motor insurance at a much more granular level and on a monthly basis, thereby providing a deep insight into market price movements.
This offers subscribers a detailed summary of average premiums by factor and geography with the structure and parameters of a multiplicative market model.
The service is available to organisations that are not currently Confused.com partners and is identical for all subscribers.
No analysis of individual insurance providers’ prices is possible. The Index is compiled using anonymous customer data.
If would like to know more about the monthly index subscription service and how to subscribe, please email Anneliese Bedwell.
