The average cost of car insurance for UK motorists has dropped after several years of soaring increases.
According to Confused.com and Towers Watson’s latest price index, the average cost of comprehensive cover fell by 7.1 per cent during the second quarter of 2012 and now stands at £797 when compared with the same period last year.
The price comparison website revealed the west of England has seen the biggest drop, as premiums plummeted by 10.5 per cent year-on-year, with 21-year-old drivers welcoming the largest reductions.
However, the results highlighted not everyone has enjoyed such falls, as 17 to 20-year-olds are still facing average car insurance premiums of £2,491, while location is also playing a large part in the quoting process.
Confused.com revealed male drivers in Manchester and Merseyside are being charged significantly more (£5,394) than their counterparts in Central Scotland (£2,999) and those living in London are expected to pay annual costs of £5,330.
Gareth Kloet, head of car insurance at Confused.com, said: “We anticipate that drivers will continue to reduce their annual mileage as a result of high motoring costs and seek cheaper vehicles in their search for more affordable cover.”