Posted on Friday, 20th January 2012 by Olivia Trule
The “shop around” price for annual comprehensive cover stands at £971.40, a 5.4% increase from £921.38 in October 2011, according to the body’s British Insurance Premium Index.
The figure takes the average of the three cheapest quotes from a range of insurers, brokers and schemes represents a 15.3% increase on a year ago.
By contrast, the average comprehensive cover premium when the full range of quotes was taken into account rose by just 0.6% over three months to £1,458.48.
Drivers aged between 17 and 22 have been hit by the steepest shop around percentage increases since October, with the typical premium for this age group standing at £2,497, a 6.6% rise.