Every quarter, Confused.com, the well-known price comparison website, produces a car insurance price index covering the UK. The latest one certainly makes for very interesting reading and it can be seen on their website but below we provide a brief summary.

In the first quarter of 2023 the average amount paid for car insurance here in the UK amounted to £657 per annum. Regrettably, this figure is £107 greater than the average amount being paid by drivers in the UK when compared with a year ago. That is a difference of around 20% – an increase that motorists could well do without in the current economic climate. This is the highest car insurance premiums have been in about 12 years on average.

It is quite possible that classic car owners could be affected twice over if they are faced with not only insuring their classic car but also happen to own a car for private use on a day to day basis.

One of the biggest factors that impact how much you are charged to insure your motor vehicle is your age. It will probably not come as a surprise to read that it is the young, inexperienced motorist who tends to pay more to insure their vehicle. For instance, a 17 year old pays an average of £1,612 per annum to insure his or her motor vehicle. It is worrying that this is £446 per annum more than a year ago – a rise of 38%.

Where you reside has a bearing upon how much you will have to pay to cover your car. If you happen to live in Inner London then, on average, you will pay more to insure your car than in any other region in the UK – an average of £1,067 per annum with this being a rise of £203 per annum in the space of 12 months. The average amount paid by a motorist living in Central Scotland is £573 per annum – £105 per annum more than a year ago.

It is potentially worth shopping around for your classic car insurance whether you are looking for cover for the first time or your existing cover is soon coming up for renewal. In this respect, why not get in contact with us to obtain a competitive quotation without any obligation. We look forward to hearing from you in due course.