Northern Ireland insurance prices finally starting to drop
Car insurance comparison experts in the UK are sharing their insights into the current insurance market in Britain and Northern Ireland.
Based on the latest data from car insurance comparison site Quotezone.co.uk, the UK average cost of car insurance in Q4 of 2024 finally started to decrease in price.
After a dramatic surge in 2023, car insurance costs have fallen across the UK over the last 12 months, with motorists paying an average of £769 in Q4 2024 versus £885 in the same quarter of the previous year.
The survey shows that motorists in Northern Ireland are paying below the average rates at €659.93, after the first signs of rate reductions last month (December).
This decrease should come as a welcome relief for motorists across the six counties, with rising repair costs, car tax hikes and new low emission zones all contributing to higher bills.
According to the index, motorists in London are paying the most for their policies, with premiums as high as £1,144 in December. Drivers in the West Midlands, Yorkshire and North West England are also some of the highest paying in the country, all paying an average premium of over £780.
If you live in the South West England, you are best off – according to the survey – with December rates as low as £565.97.
Average car insurance costs per region for Q4 2024. (Source: Quotezone.co.uk)
While the motoring insurance experts hope the insurance price decrease will continue throughout 2025, they have provided tips to help motorists keep their insurance costs as low as possible – tips that also apply to readers here in Ireland.
They are urging all drivers to check their policies and make sure all the information they have told their insurer is fully accurate and up to date.
Factors such as driver age, job title, mileage and where the vehicle is kept overnight can all affect the premium cost.
Even modifications such as vehicle branding, spoilers or alloy wheels can affect pricing and need to be declared or drivers could run the risk of invalidating their insurance policy. It’s vital all drivers check the full modifications list and update where appropriate when finalising their details.