Insurance rates face hike

Amanda Stretton
Amanda Stretton

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.