UK’s insurance premiums geographically revealed

Auto news magazine, AutoExpress, has been able to reveal exclusive information, gathered from a popular comparison website, regarding the annual insurance premium one can expect to pay depending on whereabouts in the UK you call home.

The magazine has found that those living in Dumfries, Scotland, are paying the least for their yearly insurance premium, while, as one would have expected, those living in the capital city can expect to pay much higher premiums than anywhere else in the country.

Three of the top four cheapest locations for insurance premiums in the UK are located in Scotland; in Dumfries, Perth and Kirkcaldy, one can expect to pay an average premium of £265, £267, and £283 respectively. The national average is £440, but anyone residing in London, and East London especially, will be paying out more than double that figure in some circumstances, with an average premium of £870.

This information from AutoExpress comes just as the Car Insurance Price Index, compiled by a national comparison website and Willis Towers Watson, reveals that car owners can expect to pay more for their car insurance premium in 2016, as the average rises 13.2 per cent from 2014 to 2015.

A spokesperson for Willis Towers Watson commented: “The recent increase to insurance premium tax along with inflationary pressures on claims costs, especially to vehicle damage repair costs, have been the major factors driving up prices.”

Cheapest average insurance premium:

1. Dumfries – £265
2. Perth – £267
3. Exeter, Devon – £277

Most expensive average insurance premium:

1. East London – £870
2. Ilford, Essex – £743
3. North-West London – £742