Unews World
Quoted car insurance prices have been rising for people aged under 25 in recent months despite being on a downward trend more widely, according to an index.
Younger drivers experienced a 3% rise in the three months to July, even though quoted premiums for the market as a whole fell 1.4% in the same period, according to the research from Consumer Intelligence.
Its data indicated less competition being shown from telematics providers.
These providers monitor drivers’ behaviour and can help younger motorists – who often pay the most for their cover due to higher risk factors for their age group- to access lower premiums.
In general, quoted car insurance premiums fell by 10.5% in the year to the end of July, the report found.
Drivers most commonly received a quote between £250 and £499 in July.
Among under-25s, the most common quote received in the research was £500 to £749.
Motorists in Wales saw the biggest annual fall in quoted premiums, at 19.6%, the research indicated.
Scotland and London recorded the smallest annual falls, at 4.1% and 5.0% respectively.
Average quoted premiums have risen by 98.3% since October 2013 when Consumer Intelligence began collecting data.
The over-50s have seen the largest increase, with premiums rising by 122.2%, while the under-25s have experienced the smallest rise at 35.8%.
Drivers aged between 25 and 49 have seen average quoted premiums increase by 116.8% over the period, according to the research.
Over the past year, average quoted premiums for motorists aged over 50 have fallen by 13.9% while those aged 25 to 49 saw prices slide 10.5% and the under-25s experienced falls of 2.3%.
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The index is carried out by calculating averages of the five cheapest premiums on price comparison websites and also taking common risk factors into account.
Here are average premium price falls in the 12 months to the end of July, according to Consumer Intelligence:
Scotland, minus 4.1%
London, minus 5.0%
East Midlands, minus 7.5%
North West, minus 10.5%
North East, minus 11.4%
South East, minus 11.6%
South West, minus 11.9%
Yorkshire and the Humber, minus 12.0%
West Midlands, minus 12.1%
Eastern England, minus 12.8%
Wales, minus 19.6%
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