{"id":542603,"date":"2024-09-10T16:10:48","date_gmt":"2024-09-10T15:10:48","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=542603"},"modified":"2024-11-21T15:45:00","modified_gmt":"2024-11-21T15:45:00","slug":"price-hikes","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes","title":{"rendered":"Why is car insurance so expensive?"},"content":{"rendered":"<p>Car insurance can often feel like a hefty burden on your budget, and if you\u2019ve ever wondered why the costs are so high, you\u2019re not alone. Understanding the factors that drive up insurance premiums can help you navigate the world of car insurance more effectively and potentially find ways to reduce your expenses. This guide delves into the key reasons behind the high cost of car insurance, including vehicle-related factors, personal driving history, and broader economic influences. <\/p><h3>Why is my car insurance so high?<\/h3><p>Several factors contribute to the high cost of car insurance:<\/p><ul><li><strong>Increased repair costs<\/strong>. Advances in vehicle technology and the rising cost of parts have made repairs more expensive. Modern cars often feature complex electronic systems and high-tech components, which can be costly to repair or replace after an accident.<\/li><li><strong>Rising claims costs<\/strong>. The amount insurers pay out for claims has been increasing. This is due to more expensive vehicle repairs, higher medical costs for injuries, and increased claims frequency.<\/li><li><strong>Fraud and theft<\/strong>. Insurance fraud and vehicle theft continue to drive up costs. Fraudulent claims and stolen vehicles lead to higher premiums as insurers try to cover the losses.<\/li><li><strong>Changes in legislation<\/strong>. Recent legal changes, such as the increase in the minimum compensation payouts for injury claims, have contributed to higher insurance costs. Insurers often pass these increased costs onto consumers.<\/li><li><strong>Increased risk factors<\/strong>. Factors such as higher accident rates and more severe accidents have led to increased risk for insurers, resulting in higher premiums.<\/li><\/ul><h3>Have car insurance costs gone up?<\/h3><p>Yes, car insurance costs have risen significantly in recent years. According to Association of British Insurers, there has been a steady increase in premiums due to the factors mentioned above. For instance, comprehensive car insurance premiums in the UK have experienced fluctuations but generally show an upward trend, reflecting the growing costs of claims and repairs.<\/p><h4>Reasons for price hikes<\/h4><ul><li><strong>Economic factors<\/strong>. Inflation and economic changes affect the cost of car repairs, parts, and medical expenses, all of which contribute to higher insurance premiums.<\/li><li><strong>Increased legal costs<\/strong>. Legislative changes and higher compensation payouts for claims have added to the insurers\u2019 expenses, leading to increased premiums.<\/li><li><strong>Technological advances<\/strong>. While modern vehicles are safer, they are also more complex and expensive to repair, which impacts insurance costs.<\/li><li><strong>Frequency and severity of claims<\/strong>. An increase in the number and severity of claims can lead to higher premiums, as insurers anticipate greater payouts.<\/li><\/ul><h3>Average car insurance price increases<\/h3><table id=\"pricehikes\" class=\"luna-table luna-table--fixedColumns\"><thead class=\"luna-table__header\"><tr><th>Period<\/th><th>Average car insurance cost<\/th><th>% Increase<\/th><\/tr><\/thead><tbody class=\"luna-table__body\"><tr><td>2020<\/td><td>\u00a3593<\/td><td>\u2013<\/td><\/tr><tr><td>2021<\/td><td>\u00a3522<\/td><td>-12%<\/td><\/tr><tr><td>2022<\/td><td>\u00a3554<\/td><td>6%<\/td><\/tr><tr><td>2023<\/td><td>\u00a3776<\/td><td>40%<\/td><\/tr><tr><td>2024<\/td><td>\u00a3882<\/td><td>14%<\/td><\/tr><\/tbody><\/table><p>*Source: Confused.com (average car insurance cost).<\/p><h3>What to do if your car insurance has doubled<\/h3><p>Experiencing a sudden increase in your car insurance premium can be frustrating, and even concerning. If you find yourself asking, \u201cwhy has my car insurance doubled?\u201d \u2013 here are some steps you can take to manage, and potentially reduce your insurance costs:<\/p><ul><li><strong>Increase your voluntary excess<\/strong>. Your <a href=\"https:\/\/www.finder.com\/uk\/?s=excess\">excess<\/a> is the amount you need to pay towards any claim. Opting for a higher voluntary excess can cut your premium. Just don\u2019t set it so high that you can\u2019t afford to pay it if you need to claim<\/li><li><strong>Avoid paying in monthly instalments if possible<\/strong>. If you <a href=\"https:\/\/www.finder.com\/uk\/car-insurance\/paying-annually-vs-monthly\">pay monthly<\/a>, your insurer will apply interest. As a result, you\u2019ll end up paying more overall than if you paid the full annual premium up front.<\/li><li><strong>Consider adding a named driver.<\/strong> Adding a lower-risk, experienced <a href=\"https:\/\/www.finder.com\/uk\/car-insurance\/named-driver-car-insurance\">named driver<\/a> to your policy could lower your premiums, especially if you\u2019re young and new to driving.<\/li><li><strong>Drive safely.<\/strong> Not only will this reduce your risk of having an accident, but every year that you drive safely and avoid needing to claim will increase the <a href=\"https:\/\/www.finder.com\/uk\/car-insurance\/no-claims-bonus\">no-claims bonus<\/a> on the following year\u2019s premiums.<\/li><li><strong>Avoid inessential modifications<\/strong>. <a href=\"https:\/\/www.finder.com\/uk\/car-insurance\/modified-car-insurance\">Cosmetic or performance enhancements<\/a>, such as a bespoke paint job or a pumped up engine, are likely to drive premiums up.<\/li><li><strong>Consider telematics insurance<\/strong>. This uses a small device \u2013 a \u201c<a href=\"https:\/\/www.finder.com\/uk\/car-insurance\/young-drivers\/black-box-car-insurance\">black box<\/a>\u201d \u2013 installed in your car to track your driving habits. Careful driving is rewarded with lower premiums.<\/li><li><strong>Tweak your job title<\/strong>. You can\u2019t lie about your job. But, surprisingly, making small adjustments in how you <a href=\"https:\/\/www.finder.com\/uk\/car-insurance\/job-titles\">describe your profession<\/a> can change how much you pay for insurance.<\/li><li><strong>Shop around every year<\/strong>. Always <a href=\"https:\/\/www.finder.com\/uk\/car-insurance\">compare car insurance prices<\/a> rather than just renewing with the same insurer. The best-value insurer last year may not be the best value when renewal rolls around.<\/li><\/ul><div class=\"eeQuote box u-rounded--lg source-external type-expert\">\n    <div class=\"eeQuote__gridContainer\">\n        <div class=\"eeQuote__photoContainer\">\n            <div class=\"eeQuote__startQuoteIcon\">\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"40\" height=\"36\" viewbox=\"0 0 32 28\" fill=\"none\">\n  <path d=\"M13.1114 3.54845C12.05 5.01898 11.1447 6.64935 10.3955 8.43956C9.64624 10.2298 9.24041 11.8282 9.17798 13.2348C10.7389 13.8102 11.9563 14.6733 12.8304 15.8242C13.767 16.975 14.2352 18.3816 14.2352 20.044C14.2352 22.0899 13.5484 23.8482 12.1749 25.3187C10.8637 26.7253 9.2092 27.4286 7.21127 27.4286C5.15091 27.4286 3.43394 26.7253 2.06036 25.3187C0.686788 23.9121 0 21.8661 0 19.1808C0 16.3037 0.749223 13.043 2.24767 9.3986C3.74611 5.75424 5.83769 2.62138 8.52241 0L13.1114 3.54845ZM30.8762 3.54845C29.8148 5.01898 28.9095 6.64935 28.1602 8.43956C27.411 10.2298 27.0052 11.8282 26.9428 13.2348C28.5036 13.8102 29.7211 14.6733 30.5952 15.8242C31.5317 16.975 32 18.3816 32 20.044C32 22.0899 31.3132 23.8482 29.9396 25.3187C28.6285 26.7253 26.974 27.4286 24.976 27.4286C22.9157 27.4286 21.1987 26.7253 19.8251 25.3187C18.4516 23.9121 17.7648 21.8661 17.7648 19.1808C17.7648 16.3037 18.514 13.043 20.0124 9.3986C21.5109 5.75424 23.6025 2.62138 26.2872 0L30.8762 3.54845Z\" fill=\"#232320\"><\/path>\n<\/svg>\n            <\/div>\n\n                            <figure class=\"eeQuote__photo\">\n                    <img decoding=\"async\" alt=\"Rebecca Goodman's headshot\" src=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png\" class=\"avatar avatar-200 photo finder-avatar\" height=\"200\" width=\"200\" srcset=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png?fit=180 180w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png?fit=360 360w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png?fit=600 600w\" sizes=\"(max-width: 600px) 100vw, 600px\" loading=\"lazy\">\n                <\/figure>\n\n                                    <\/div>\n\n        <div class=\"eeQuote__contentContainer \">\n            <div class=\"eeQuote__content\">\n                                    <div class=\"eeQuote__heading\">Expert insight: Car insurance advice<\/div>\n                                <div class=\"eeQuote__quote\">\n                    <p>\"Car insurance prices are going up after a rise in repair and labour costs, so you are likely to pay more when you renew a policy than last year. But that doesn\u2019t mean you should accept the first quote you\u2019re given or even that you should stick with your current insurer. If you can find a cheaper deal elsewhere, you\u2019re free to move \u2013 or you could always ask your insurer to lower its price. If it doesn\u2019t, you could also ask it to throw in something else as a perk, such as breakdown cover or window and glass protection.\"<\/p>\n\n                <\/div>\n            <\/div>\n\n                            <div class=\"eeQuote__authorInfo\">\n                                            <div class=\"eeQuote__authorPhoto--mobile\">\n                            <figure class=\"eeQuote__photo\">\n                                <img decoding=\"async\" alt=\"Rebecca Goodman's headshot\" src=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png\" class=\"avatar avatar-200 photo finder-avatar\" height=\"200\" width=\"200\" srcset=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png?fit=180 180w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png?fit=360 360w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/2025\/12\/RebeccaGoodmanF1_Finder_600x600.png?fit=600 600w\" sizes=\"(max-width: 600px) 100vw, 600px\" loading=\"lazy\">\n                            <\/figure>\n                                                    <\/div>\n                                        <div class=\"eeQuote__authorDetails\">\n                                                    <a class=\"eeQuote__authorName\" href=\"https:\/\/www.finder.com\/uk\/author\/rebeccagoodman\" itemprop=\"url\" target=\"_blank\">\n                                Rebecca Goodman\n                            <\/a>\n                                                                            <div class=\"eeQuote__authorTitle\">Writer<\/div>\n                                            <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n<\/div>\n<h3 id=\"bottomline\">Bottom line<\/h3><p>If you want inexpensive car insurance, you\u2019ll need to compare the options available from a range of insurers. From third party cover to fully comprehensive cover, there are a wealth of policies and providers to choose from. The right policy at the right price is out there \u2014 you\u2019ve just got to go and find it. <a href=\"https:\/\/www.finder.com\/uk\/car-insurance\">Compare your options<\/a> to find cheap car insurance that\u2019s right for you.<\/p><h3 id=\"faqs\">Frequently asked questions about cheap car insurance<\/h3><ul class=\"luna-accordionGroup accordionGroup\"><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000000\" data-toggle=\"collapse\" data-target=\"#accordion0000000000\">\n        <span class=\"luna-accordion__title\">How can I get a lower rate on my car insurance?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000000\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Start by dropping coverage that you don\u2019t need and increasing your excess. Then work on improving your driving record and reducing claims. Shop around to get better deals, and then talk to your current insurer to see if you can get a lower rate before switching to a different insurer.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000001\" data-toggle=\"collapse\" data-target=\"#accordion0000000001\">\n        <span class=\"luna-accordion__title\">Is budget car insurance a good idea?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000001\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Budget car insurance companies can offer a good rate for drivers who have trouble getting covered, but they\u2019re not for everyone. You might find better customer service, mobile apps and coverage from bigger national companies, but those benefits don\u2019t always come with the lowest insurance rates.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000002\" data-toggle=\"collapse\" data-target=\"#accordion0000000002\">\n        <span class=\"luna-accordion__title\">How do I find cheap insurance companies near me?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000002\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Sometimes small insurance companies or local and regional companies understand your needs better than the big national companies. <\/p><\/div>\n  <\/div>\n<\/li><\/ul><div id=\"sources\" style=\"position: relative;\"><h3 style=\"position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0;\">Sources<\/h3>\n<div id=\"lazy0000000000\"><\/div>\n<script type=\"application\/json\" id=\"lazyloaded-assets-json-lazy0000000000\" class=\"lazyloaded-assets-json\">{\"critical-scripts\":[],\"scripts\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.de087a0da9824e407767.js\"],\"styles\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.87684078d471e76125dd.css\"]}<\/script><\/div><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block\">*Based on data provided by Consumer Intelligence Ltd, www.consumerintelligence.com (October \u201925). 51% of Confused.com car insurance customers could save \u00a3517.83.<\/div><\/article>","protected":false},"excerpt":{"rendered":"<p>Discover why your car insurance might have doubled and explore practical steps to lower your premium.<\/p>\n","protected":false},"author":954,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[2645],"tags":[],"asset_tag":[],"class_list":["post-542603","post","type-post","status-publish","format-standard","hentry","category-car-insurance"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why is car insurance so expensive? | Finder UK<\/title>\n<meta name=\"description\" content=\"Discover why your car insurance might have doubled and explore practical steps to lower your premium and reduce your costs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why is car insurance so expensive?\" \/>\n<meta property=\"og:description\" content=\"Discover why your car insurance might have doubled and explore practical steps to lower your premium and reduce your costs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes\" \/>\n<meta property=\"og:site_name\" content=\"Finder UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/findercomuk\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-10T15:10:48+00:00\" \/>\n<meta name=\"author\" content=\"Connor Steele\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@findercomUK\" \/>\n<meta name=\"twitter:site\" content=\"@findercomUK\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Connor Steele\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes\"},\"author\":{\"name\":\"Connor Steele\",\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/person\/c95e9ab20f016ec74a02236d3bfde2fd\"},\"headline\":\"Why is car insurance so expensive?\",\"datePublished\":\"2024-09-10T15:10:48+00:00\",\"dateModified\":\"2024-09-12T17:37:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes\"},\"wordCount\":1147,\"publisher\":{\"@id\":\"https:\/\/www.finder.com\/uk\/#organization\"},\"articleSection\":[\"Car insurance\"],\"inLanguage\":{\"@type\":\"Language\",\"name\":\"English\",\"alternateName\":\"en\"},\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.finder.com\/#organization\"},\"citation\":[{\"@type\":\"CreativeWork\",\"name\":\"Confused\",\"url\":\"https:\/\/www.confused.com\/car-insurance\/guides\/has-car-insurance-gone-up\"},{\"@type\":\"CreativeWork\",\"name\":\"ABI\",\"url\":\"https:\/\/www.abi.org.uk\/news\/news-articles\/2024\/4\/motor-premiums-stabilise-but-cost-to-insurers-mount\/\"}],\"commentCount\":0},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes\",\"url\":\"https:\/\/www.finder.com\/uk\/car-insurance\/price-hikes\",\"name\":\"Why is car insurance so expensive? 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