Motorists faced an 11.5% rise in car insurance premiums in the third quarter, the latest benchmark British Insurance Premium Index shows, which took into account the three lowest quotes for each customer in its survey.
According to the Index, young drivers were hit in the biggest annual premium increase, mainly due to the rise in accidents involving young people and a surge in fraudulent claims.
Over the year ending September 30, there was a 39.3% increase in the average cost of an annual comprehensive car insurance policy, to £792. The figure represents the biggest annual jump recorded by the Index.
Third party, fire and theft cover rose 54.6% over the past year to £1,097.
The figures also show that over the past 12 months, there has been a 51% rise in the average cost of insurance for those aged between 17 and 22.
After shopping around for their cover, men and women of this age can now expect to pay annual premiums of around £2,500 and £1,400 respectively.
© Press Association 2010