Confused about vehicle insurance? You will be

Confused about vehicle insurance? You will be

This represents the biggest quarterly decrease in four years and is the first time prices have fallen since 2015, with United Kingdom motorists now paying an average of £768 for cover.

Gender differences - men on average pay £95 more than women - persist despite an European Union directive forbidding insurers to assess drivers on their sex.

Unveiling a new civil liability bill in March, the Minister of Justice said it would set a fixed amount of compensation for whiplash claims and require medical evidence before such claims can be settled.

The Ogden rate was reduced last April, which cost insurance firms large sums of money.

That's according to the most comprehensive vehicle insurance price index in the United Kingdom based on more than six million quotes a quarter from Confused.com and powered by Willis Towers Watson.

CEO Louise O'Shea said: "Finally drivers have had some good news with the end of rising vehicle insurance costs in sight".

However, women still have the edge for auto insurance premiums, in spite of an European Union directive stating insurers weren't allowed to discriminate.

Young people aged 17 saw the biggest price drop in insurance premiums as they pay £118 less than they did last year, but their cover is still one of the most expensive at a whopping £2,003 a year.

That is according to research by Confused.com, which said the lower prices reflect an optimistic outlook for insurers following changes to the discount rate and a crackdown on whiplash claims.

In Scotland, premiums are also still increasing, with motorists in the Scottish Borders area suffering the largest increase (6%) since previous year. However, drivers in London can celebrate - their premiums have fallen by around 6% compared with the same period in 2016/17. Motorists in inner London have seen the biggest fall, down 6%, although they still pay the highest premiums at more than £1,000 a year on average.

According to comparison site Confused.com, the average premium in the first three months of 2018 was £768, down by 2%, or £13, on the same period previous year. After years of tax hikes and rising premiums, a third of drivers say vehicle insurance is becoming unaffordable.

Related Articles

  • Three suspects including two juveniles arrested in connection to east Charlotte robbery

    Three suspects including two juveniles arrested in connection to east Charlotte robbery

    Police have arrested a new suspect in Kim Kardashian's 2016 Paris robbery case, according to French newspaper Nice Matin . The robbery netted as much as $11 million, including Kardashian West's $4 million emerald cut diamond.
    Sheeran calls the tune in Beatles film

    Sheeran calls the tune in Beatles film

    It's unclear whether Sheeran would limit his contribution to an acting role, or if he would contribute to the soundtrack as well. He is the biggest hit-maker on the planet. "If anyone can make a film about the Beatles' songs even better musically, it's him".

    Mizzou basketball lands transfer G Mark Smith from IL

    The Tigers went 20-13 overall this season and advanced for the NCAA Tournament for the first time since the 2012-13 season. Louis Post-Dispatch, Yvonne Smith, Mark's mother, said the choice to play for Coach Cuonzo Martin was a "no-brainer".
  • Russia's telecom watchdog starts blocking Telegram messenger

    Russia's telecom watchdog starts blocking Telegram messenger

    The media regulator sought to block the app because the firm had refused to hand over encryption keys used to scramble messages. Roskomnadzor intends to take measures to lock tools to use is prohibited on the territory of the Russian Telegram messenger.

    Is Boston Beer Company (SAM)'s Triple EMA Building Momentum?

    Smith Asset Mngmt Grp Inc Inc LP invested in 24,103 shares. (NYSE:SAM). 2,700 were reported by Hutchin Hill Limited Partnership. Endurance Wealth Management Inc. purchased a new position in shares of Samuel Adams in the fourth quarter worth about $134,000.
    Student stabbed to death at Binghamton University

    Student stabbed to death at Binghamton University

    They say updates will be sent as more information becomes available. "We are in the process of contacting them". Binghamton University has announced through its alert system, that the victim has died from his wounds.
  • US Bancorp (USB) Scheduled to Post Quarterly Earnings on Wednesday

    It dropped, as 153 investors sold GE shares while 921 reduced holdings. 141 funds opened positions while 552 raised stakes. Wall Street Access Asset Management Llc bought 7,772 shares as the company's stock declined 3.81% with the market.

    Kinross Gold (NYSE:KGC) Receiving Somewhat Positive Press Coverage, Study Shows

    Looking at a shorter time period, shares have been seen -13.18% away from the 50 day high and 9.77% off the 50 day low price. It increased, as 15 investors sold PFPT shares while 85 reduced holdings. 23 funds opened positions while 67 raised stakes.
    John Stamos and wife welcome first child

    John Stamos and wife welcome first child

    The man famous for being the "cool uncle" from Full House to DJ, Stephanie , and Michelle is now able to call himself a father. Not only did the Full House alum verify the arrival of his first born , but he also shared the young Stamos' moniker.
  • Woman's body found in Northern California river where Valencia family vanished

    Woman's body found in Northern California river where Valencia family vanished

    The body has been sent for identification, amidst fear that that this could be that from the missing Thottapilly family. Initially, Allman said the body was that of a child but the sheriff's office later corrected that it was a woman's.
    'Windrush generation' row deepens as May rules out summit

    'Windrush generation' row deepens as May rules out summit

    Ms Nokes even appeared to confirm reports some Windrush generation residents have been wrongly removed from the country. Tens of thousands who arrived as children from the Caribbean are said to have been "treated like criminals".
    Humanitarian grounds justify Syria attack, says Theresa May

    Humanitarian grounds justify Syria attack, says Theresa May

    The missile strikes have drawn the ire of chief Syrian government allies, Russian Federation and Iran. Indeed, we have been calling for Parliament to be recalled since last Wednesday.