Drivers in London saw the biggest increase for car insurance prices. Inner London was the region that saw the biggest rise in premiums over a 12-month period, with drivers now paying £936, on average, for their car insurance. That’s an annual increase of £132 (16%). The second biggest increase for car insurance was in Northern Ireland, with an increase of £106 (20%) in the past 12 months. That means drivers in the region are paying an average premium of £631.
Is the motor vehicle insurance index included in the CPI?
The motor vehicle insurance index, a component of the private transportation index, is included in the transportation group of the Consumer Price Index (CPI). The motor vehicle insurance index is published at the U.S., region, division, and area level.
How do car insurance prices vary across the UK?
Car insurance prices vary across the UK for factors like population density, rates of accidents, the types of drivers seeking insurance and traffic, which can have an impact on a location's average price. Across the UK, drivers in Scotland get the best value premiums, paying 15% less than the UK average with annual costs of £473.
Where is the motor vehicle insurance Index published?
The motor vehicle insurance index is published at the U.S., region, division, and area level. The motor vehicle insurance index covers physical damage, liability, and miscellaneous insurance coverage for private passenger vehicles.