Car insurance prices in OL postcodes
Date published: 16 January 2019
Motorists in OL postcodes have seen their insurance premiums rise
OL postcodes have been revealed to be the most expensive area in Manchester and Merseyside for car insurance. Motorists in the region pay £1,103, following a +£12 (+1%) increase over the quarter, on average. However, this isn’t the biggest increase in prices in the region, as the cost of car insurance in BL postcodes increased +£45 (+4%) compared to three months ago, on average.
The cost of car insurance in Manchester and Merseyside increased by +3% – equivalent to £31 in three months, with motorists in the region now paying £995, on average. That’s according to the most comprehensive car insurance price index in the UK based on more than six million quotes a quarter from Confused.com and powered by Willis Towers Watson.
While this increase may seem small, prices appear to be taking a U-turn, following five consecutive quarters of decreases.
The current price of insurance in Manchester and Merseyside is still -£76 (-7%) cheaper than 12 months ago, despite the increases seen this quarter (October - December 2018).
These increases are reflective of the direction car insurance prices are heading across the majority of the UK. According to the data, the cost of car insurance in the UK rose +2% over the past three months - equivalent to +£14 - to £774, on average.
It seems motorists who stay with the same insurer are already starting to see these increases reflected in their renewal price. A nationally representative survey of UK drivers found more than half (57%) of motorists who renewed their car insurance in the last quarter (October - December 2018) saw their premium go up by £48 on renewal, on average, as insurers fail to reward loyal customers.
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