Car Insurance Statistics

Is the UK paying too much for car insurance?

Esther Wolffowitz
by , Insurance Publisher

Despite car insurance being a legal requirement, some drivers in the UK are choosing not to insure their cars. We have carried out research to find the stats behind car insurance claims, uninsured drivers and the technology that can help to reduce your car insurance cost.

Overview of car insurance in the UK

  • £471 is the average annual cost of a car insurance policy in 2018.
  • £24 fall in the the average insurance policy cost from 2017.
  • 23% of those aged 21-29 have a black box installed as part of their insurance policy.
  • 10,000,000 drivers in the UK recording using dash cams.
  • 79,000 motorists were caught driving illegally without insurance in 2018.

Average cost of car insurance

The cost of car insurance has been the hot topic of discussion for many of the UK’s drivers with policies seeming to rise year on year. However, in 2018 the average policy cost actually decreased. The amount Brits are paying for car insurance varies massively depending on age, explore the graphic below to find out more.

£24

Decrease in average insurance policy cost from 2017 to 2018.

Average cost of car insurance policy by age group, 2018

AgeAverage Price
20s£1,036
30s£832
40s£692
50s£600
60s£687

£1,036

Those in their 20’s are paying the most for car insurance.

£600

While those in their 50’s are paying the least for car insurance

Uninsured drivers

Motor insurance companies all have to contribute towards the Motor Insurance Bureau scheme which compensates individuals injured by uninsured or untraceable drivers. This is ultimately paid for out of insurance premiums. So how many drivers are driving illegally?

  • 79,000 drivers were caught driving without insurance in 2018
  • A 33% reduction compared to 2017, where 118,000 drivers were caught
  • 872 of these offences in 2018 were committed by individuals under 17 years of age

Dash cams

Dash cams are becoming increasingly popular amongst drivers in the UK. These handy little dashboard-mounted cameras record the road ahead and can prove very useful if you’re ever caught up in an accident.

  • Over 10 million drivers use dash cams in the UK in 2018
  • 27% of drivers are using dash cams in the UK
  • 72% of drivers believe all drivers should use a dash cam
  • Some insurance companies may even offer a discount if you have a dash cam fitted

Black box insurance

Telematics or black box insurance is a type of policy that calculates your insurance premium based on your driving performance. This is measured by a GPS box fitted in your vehicle that reports on your performance behind the wheel.

These policies have become much more popular in recent years as they typically offer cheaper premiums, sometimes in return for certain driving restrictions (such as total mileage or time of day).

Age GroupPercentage
1713%
1818%
19-2023%
21-2926%
30-4913%
50+8%

Sources used

  • Aviva
  • Insurance Post
  • Money Advice Service
  • RAC
  • ABI

For all media enquiries, please contact

Matt Mckenna
UK Communications Manager
T: +44 20 3828 1338
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

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