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Confused.com Car Insurance Price Index Q1 2019

In association with Willis Towers Watson

Insurance Consulting and Technology
N/A

April 30, 2019

The Confused.com Car Insurance Price Index in association with Willis Towers Watson is compiled using anonymous applicant data and uses the average of the five cheapest quotes received in response to all enquiries on Confused.com, one of the UK’s leading comparison sites.

Quarterly overview

Headline figures from the Index during the calendar quarter from 1 January to 31 March 2019 were:

  • Average premiums fell by 1.5% in the first quarter, a change in direction from the small price rises of the previous two quarters.
  • Prices have fallen by 0.7% in the last 12 months.
  • The overall average UK premium is now £762, a reduction of £11 in the quarter and down from £768 a year ago.
  • However, some drivers, mainly under 30, received price increases in the quarter
  • Similarly, amid the general trend of price decreases, some cars between 11 and 15 years old were subject to quite significant increases
  • Annual mileage-based savings have mainly rewarded drivers doing 6,000 miles per year or fewer.

The Index has collected data on pricing trends since the final quarter of 2006 and many millions of new quotes contribute to each quarter’s findings. This makes it the most comprehensive current insight into price trends, particularly as it is focused on the dominant price comparison channel.

Each quarter, in addition to the press release that is publically available on our website, we produce a more in-depth summary of the quarter’s findings exclusively for people who have registered their interest with us – typically two weeks after the press release is issued. To receive future issues of the summary please register your interest, ensuring you mention ‘Confused.com/Willis Towers Watson index' in the message field.

Please register to receive a copy of the results.

Subscription services

In July 2014, Willis Towers Watson and Confused.com launched a new subscription service, disclosing the results of this analysis for comprehensive motor insurance at a much more granular level and on a monthly basis, thereby providing a deep insight into market price movements.

This offers subscribers a detailed summary of average premiums by factor and geography with the structure and parameters of a multiplicative market model.

The service is available to organisations that are not currently Confused.com partners and is identical for all subscribers.

No analysis of individual insurance providers’ prices is possible. The Index is compiled using anonymous customer data.

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