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 fourth quarter 2021 edition of the Confused.com Car Insurance Price Index in association with WTW.
In last quarter’s index summary, we noted that a sequence of price reductions had slowed in the third quarter of 2021. In the final quarter, the pricing scales tipped the other way as the average premium in the UK rose.
The increase, coming ahead of companies needing to implement the findings of the Financial Conduct Authority’s (FCA) Fair Pricing Review from 1 January 2022, was not enough, however, to reverse the annual trend.
The latest headlines include:
Average prices fell by 6.3% (£36) during 2021.
After four consecutive quarters of price reductions, premiums rose by 4.8% in the final quarter of 2021.
Prices rose by £25 in the final quarter to an average UK-wide premium of £539.
The largest annual price reductions in 2021 favoured the youngest and oldest drivers.
Areas where prices fell by over 10% annually were heavily concentrated in the North West of England.
To request a copy of the quarterly results and to be added to the list for future mailings, please complete the form.
4.8%
rise in premiums in the final quarter of 2021
6.3%
average price decrease 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.
