Confused.com Car Insurance Price Index Q2 2022

We are pleased to bring you the second quarter 2022 edition of the Confused.com Car Insurance Price Index in association with WTW.

At the end of the first quarter of 2022, it looked like car insurance prices were on a course to emulate or approach the level of inflation recorded by the UK Retail Price Index – which the Office of National Statistics has reported at 13.4% as of the end of May 2022.

However, despite the third straight quarterly increase, price rises flattened out in the second quarter, with drivers across the UK seeing an average increase of 0.8% compared with prior quarter increases of 3.8% and 3%.

The latest headlines include:

• Average prices rose by 0.8% in the second quarter
• Over the last year, prices have risen by 6.1%, increasing average premiums by £32.
• The average UK premium, as of the end of June, stood at £554.
• On a regional basis, prices fell in eight of the 23 regions included in the Index during the second quarter.
• There were also price decreases in the quarter for cars valued at up to £4,000.

To request a copy of the quarterly results and to be added to the list for future mailings, please complete the form.

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.