Average cost of car insurance is now £678
The average annual premium paid by consumers for comprehensive motor cover fell by almost 15% last year, according to actuarial consultancy Towers Watson and insurance aggregator site Confused.com.
The analysis found that average prices fell from £797 in 2012 to £678 this year, despite fears that the introduction of EU Gender Directive in December 2012 would lead to higher prices for women.
However, both men and women have seen average policy prices fall.
Confused.com head of car insurance Gemma Stanbury said: “It will be welcome news that the second quarter of 2013 has brought car insurance premium reductions across the board.
“In fact, we have seen a 15% decrease in comprehensive insurance premiums, meaning cheaper prices all round for British drivers.”
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