DRIVERS COULD be forgiven for wondering whether running a car would ever stop costing them more money each year. The price of insurance and fuel, and expense of servicing and replacement parts has been rising steadily.
Now motorists car breath a (small) sigh of relief. The average price paid for car insurance has recorded its first quarterly drop in two years.
However, before getting too excited and wondering what the savings could be put toward, the Association of British Insurers (ABI) cautions that despite the reduction, drivers are still paying record amounts for the time of year.
The ABI’s Motor Insurance Premium Tracker found the average price paid for comprehensive motor insurance was £478, down £13 on the final quarter of 2017, as well as being the first quarterly fall in premiums in two years.
Its index began in 2012, and tracks how much drivers pay for their motor insurance, rather than quotes.
The bad news is that £478 is the highest average premium it has recorded for the first quarter of any year.
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