The
cheapest average motor insurance for drivers under 25 has dipped by 10.3
per cent in the last year, according to a new study by Consumer
Intelligence.
However,
the research firm suggests the drop may have come at the expense of
motorists over 50, with the average cheapest premiums for this age group
now 5.3 per cent higher than they were a year ago.
Ian
Hughes, chief executive of Consumer Intelligence, said: 'To some
degree, these increases for under-25s seem to be at the expense of older
motorists.
Driving
down the cost: The average cost of insurance premiums for drivers under
25 has dipped by 10.3 per cent in the last year according to a new
survey
However,
the survey, which compared figures between May 2014 and May 2015,
showed that despite a 10.3 per cent decrease in the cost of car
insurance, motorists under 25 still face paying an average cheapest
premium of £1,628.
Overall,
the average cheapest premium for drivers nudged up 0.3 per cent to £677
during the period, this compares to a 1.1 per cent reduction in average
cheapest premiums for all motorists in the six months between December
2014 to May 2015.
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