The Index monitors car insurance price trends in the UK, with summary results published quarterly. It is compiled from anonymous applicant data and uses the average of the five cheapest quotes received in response to all enquiries on Confused.com.
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Car insurance prices fall to lowest level since 2015
We are pleased to bring you the third quarter 2021 edition of the Confused.com Car Insurance Price Index in association with Willis Towers Watson.
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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.
For the fourth quarter in a row, and the sixth time in seven quarters, the cost of comprehensive motor insurance in the UK fell in the third quarter of 2021.
Nonetheless, as COVID-19 lockdown restrictions continue to ease and road usage returns to nearer typical levels, it’s notable that the latest quarterly decrease was distinctly lower than in recent quarters and continued a slowing trend.
The latest headlines include:
Average prices fell by 1.5% in the third quarter.
On an annual basis, prices have fallen by 15.9%, yielding a typical saving of £97 per policy.
The average UK premium of £514 is the lowest it has been in six years.
Many of the highest annual price reductions have been concentrated in the North West of England.
Mileage-based annual savings have been below average up to a declared mileage of 7,000 and above average beyond that figure – except for extremely high mileage (over 30,000).
To request a copy of the quarterly results and to be added to the list for future mailings, please complete the form.
In the third quarter of 2021, the average UK premium fell by
1.5%
Over the last 12 months, average prices have fallen
15.9%
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 Patrick Tingay.
