Car insurance in Luton has increased by more than 60% in just one year according to new figures
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Luton is the most expensive area in the region for car insurance – which now costs drivers an average of £1,272 following a 60% (£477) annual increase.
That’s according to data from confused.com, which shows the average cost in the South Central area is now £952 – the highest recorded for the region. The data shows the UK average now stands at £995 – an increase of 58% (£366).
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Hide AdLouise Thomas, car insurance expert at Confused.com, said: “All areas in South Central have seen increases, with Luton now the most expensive area for drivers. Prices are now £1,272, following a 60% (£477) increase over the last 12 months. But drivers in Hemel Hempstead and Milton Keynes have likely seen the biggest increases over the past 12 months overall. That’s as prices went up by 60%, making average car insurance prices now £958 and £926, respectively.”
The latest data shows how drivers aged between 17 and 20 have seen their premiums rise by more than £1,000, on average, compared to 12 months ago. For 17-year-olds, this is a 98% increase year-on-year, equivalent to £1,423, on average. This brings the average price of a policy to £2,877.
Meanwhile, a £1,447 (84%) increase in prices for 18-year-olds means they’re paying more than £3,000 for the first time. Their premiums reached £3,162 on average. Hefty increases also mean that drivers up to the age of 43 can expect to pay £1,000 or more for their car insurance, on average.
And men continue to pay more than women for their car insurance. The latest data shows the average price for male drivers topped £1,000 for the first time. Prices are now £1,061, following a £389 (58%) annual increase. For women, prices have increased similarly, but still remain cheaper. On average, prices are now £327 (59%) more expensive in comparison to 12 months ago. That’s a difference of £177 between the two.
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Hide AdAside from shopping around to keep costs down when it comes to renewal tips include using a price comparison site to find the best deals, paying for your car insurance annually, increasing your voluntary excess and enhancing car security.