Car Insurance Statistics

Is the UK paying too much for car insurance?

28 Feb 2018

We explored all the latest statistics to give you an insight into car insurance in the UK.

Overview of car insurance in the UK

  • £484: the average annual cost of car insurance.
  • 11% rise in the the average insurance policy cost.
  • 975,000 drivers have a black box installed as part of their insurance policy.
  • 3,000,000 drivers in the UK recording using dash cams.
  • 4% of motorists are driving illegally without insurance.

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. These stats show how much the average policy has changed since 2010.

Comprehensive insurance cover

YearAverage premium costAnnual change
2010 Q1£432.12
2011 Q1£612.1942%
2012 Q1£627.563%
2013 Q1£586.03-7%
2014 Q1£490.81-16%
2015 Q1£457.78-7%
2016 Q1£552.4521%
2017 Q1£640.8216%

Third party, fire and theft insurance cover

YearAverage premium costAnnual change
2010 Q1£526.45
2011 Q1£859.0163%
2012 Q1£899.885%
2013 Q1£876.40-3%
2014 Q1£718.79-18%
2015 Q1£672.96-6%
2016 Q1£770.3214%
2017 Q1£941.2622%

48%

Increase in comprehensive insurance premiums since 2010.

79%

Increase in third party, fire and theft insurance premiums since 2010.

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?

  • 4% of motorists drive illegally without car insurance.
  • This amounts to 1 million people.
  • However, this number has halved since 2004.
  • 145,000 cars were taken off the road for being driven illegally in 2016, a rise from the year before.
  • 58,000 of these cars were crushed, a rate of over 1,000 per week.

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 3 million drivers use dash cams in the UK.
  • 25% believe fitting a dash cam will improve their driving.
  • 69% of people who had an accident, involving a dispute over who was responsible, think having a dash cam would have been useful.
  • 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).

Graph showing the number of black box insurance policies in the UK. Over 700,000 in 2016, up from just over 500,000 in 2015.

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