Soaring cost of car insurance in Leeds

The Confused.com car insurance price index reveals that over the last 12 months, prices in the city and in Sheffield have risen by 14 per cent, which is equivalent to £107 on average.

Drivers living in Leeds have faced an increase of 70 per cent in car insurance costs over the last decade, equivalent to a hike of £398. This means drivers can now expect to pay £872 for a typical comprehensive car insurance policy, compared to just £765 this time last year.

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The price comparison site’s motoring editor Amanda Stretton said: “Drivers in Leeds and Sheffield are now paying £107 more on average for an annual comprehensive car insurance policy than they did during the same period in 2015. With the average premium standing at £872, many cash-strapped car owners will no doubt wish they could slam on the brakes on the escalating cost of motoring.

“And it’s not just the price of comprehensive policies that have risen over the past 12 months, with the typical third party fire & theft (TPFT) premium at its highest ever cost too. With an average TPFT policy costing £1,311, drivers interested in this level of cover may want to get quotes for fully comprehensive policies too as in some cases it may work out cheaper.

“These rising prices make it crucial that drivers seek to reduce the cost of motoring wherever they can. As ever, our advice to all motorists is to shop around using a site such as Confused.com, which can help drivers save on their car insurance and help slash running costs with our handy tools, tips and guides.”

The price index also showed car insurance prices are continuing this upward trend across the UK. Over the last 12 months, UK prices have increased by £95 on average. This means a driver can now expect to pay £767 for a typical comprehensive car insurance policy, the costliest amount since mid-2012,

INSURANCE COSTS VARY FOR GROUPS

It’s clear that some motorists have been hit harder than others.

In particular, older drivers continue to see the greatest increases. Comprehensive premiums have never been higher for many drivers in their sixties and seventies.

Meanwhile, despite teenage drivers paying less than their maximum ever premiums, the cost of car insurance for younger drivers remains, by comparison, eye-wateringly high. Average premiums for people aged 26 and under are all more than £1,000. By contrasts, motorists aged 60 and over can still typically expect to pay less than £500. But those aged 68 pay £515.