Insurance rates face hike

Amanda Stretton

Amanda Stretton

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Motorists have been hit with the biggest annual car insurance price hike in five years, according to new research.

Premiums rose by an average of 19% over the past 12 months, price comparison firm Confused.com found.

This means drivers are now paying £715 on average, compared to just £600 this time last year.

It is the fastest 12-month increase in prices since 2011.

Drivers aged 61 have faced the steepest rise, with premiums up 24%.

Younger drivers have been less affected, with prices increased by just 8% for 17-year-olds.

“If prices rise at this rate, we could be facing the possibility of average premiums breaching the record high of 2011, when they hit £858.” said Amanda Stretton, motoring editor at Confused.com.