According to the analysis, the average car insurance premium fell by 9.4% over the course of the year through August.
The average car premium is now £ 751, with over a quarter (27%) of the cheapest insurance deals coming from telematics companies, Consumer Intelligence said. This is the highest proportion since data collection began in 2013.
Telematics policies can help people get cheaper car insurance by rewarding them for good driving performance.
The study examines prices offered to thousands of people by price comparison websites and some direct insurers, including fully comprehensive and liability insurance, and analyzes the top five prices for each person.
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Those under 25 years of age (minus 10.5%) led the way with the largest annual decline, followed by drivers aged 25 to 49 (minus 9.6%) and those over 50 (minus 8.2%) .
Five nations or regions recorded double-digit decreases in premiums – with the largest drops in the Northeast (13.2%), the Northwest (10.7%) and London (10.4%).
Harriet Devonald, insurance pricing expert at Consumer Intelligence, said, “Telematics policy usage has always been higher among younger drivers to help them get on the road cheaper, but even that age group is now using the technology more – at 62% of them five cheapest offers now telematics-based for the under 25-year-olds. “
According to Consumer Intelligence, prices have fallen nearly 20% since peaking in September 2017.
London residents (£ 1,265) remain the most expensive to insure, followed by those in the north west of England (£ 984). The south west of England (£ 529) remains the cheapest region in the whole of the UK to get car insurance, the report said.
Here are the reductions in typical auto insurance premiums in the 12 months through August and the average premium when looking at the five cheapest deals, according to Consumer Intelligence:
– Southeast, down 7.3%, £ 610
– Scotland, down 8.0%, £ 565
– East Midlands, down 8.3%, £ 554
– East England, down 8.7%, £ 606
– Southwest, down 9.7%, £ 529
– West Midlands, down 9.8%, £ 752
– Wales, down 10.1%, £ 576
– Yorkshire and the Humber, down 10.3%, £ 687
– London, down 10.4%, £ 1,265
– Northwest, down 10.7%, £ 984
– Northeast, down 13.2%, £ 770
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