Under-25s see insurance prices fall by over 15 per cent

The cost of car insurance is falling, with drivers seeing annual premiums drop by an average of 9.1 per cent over the past 12 months, according to data analytics experts Consumer Intelligence. Research shows average car insurance bills for those with telematics devices - often called black boxes - have fallen to £766. But premiums are still 20.4 per cent higher than February 2014 when Consumer Intelligence -- whose figures are used to calculate official inflation statistics -- first started collecting the data. In June 2017, figures from Consumer Intelligence showed that the cost of car insurance was rising five times faster than inflation, with a 15.7 per cent increase from May 2016 to May 2017 - pushing average premiums to £666. "It's likely premiums will continue to fall unless there are any major shocks in claims or tax rises" Under-25s are the biggest beneficiaries from the latest round of price cuts and drivers can expect annual premium quotes of £1608 after prices fell 15.4 per cent in the past year.