Car insurance price reaches record-breaking levels - The Solihull Observer

Car insurance price reaches record-breaking levels

Solihull Editorial 17th Oct, 2023   0

CAR insurance prices in the West Midlands are at the highest recorded, with drivers now paying on average £924 a year.

The latest data, from reveals how drivers are seeing a 63 per cent increase compared last year.

The latest data shows how prices in all areas of the West Midlands are now the highest on record. But some drivers are worse off than others.

The most expensive area overall is Birmingham, where prices are now £1,275, on average, following a 65 per cent annual increase.

And although prices did increase by 60 per cent in comparison to this time last year, Coventry is currently the cheapest area for drivers.

That’s as the cost of car insurance in this area is £953, on average.

Louise Thomas, motor expert at car insurance said: “For another consecutive quarter, we’ve seen some of the highest inflation rates when it comes to car insurance.

“With prices up, drivers are likely to be paying more than ever. So those who haven’t yet been affected should be wary of how pricing may affect them at their next renewal.

“But there are deals around and drivers can still save money, even if they’ve noticed their renewal has gone up.

“And in a time of financial uncertainty, this can be really helpful if you’re needing to watch your money more closely than before.

“So if you’re due to renew, consider ways in which you can keep costs down.”


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