Car insurance costs rocket to all-time high

Tom Webster

Car insurance premiums have hit an all-time high, with the average annual cost of a fully comprehensive policy rising to £703.79, a staggering leap of 40.5 percent over the last year.

Unsurprisingly it is young drivers that are taking the biggest hit, with their costs rising by 13.5 percent over the last three months, and a massive 50.9 percent over the last twelve months according to figures released by the AA. Inexperienced 17-22 year-olds will now shell out an average of £1,956 to comprehensively insure their car.