Average motor insurance price ‘at four-year low in 2020’

The average price motorists paid for their motor insurance during 2020 was at a four-year low, according to insurers.

The average price paid for comprehensive cover across 2020 was £465. This was down by 1% on 2019 and the lowest amount since 2016.

Average prices did creep up towards the end of last year to £468 in the fourth quarter.

But the Association of British Insurers (ABI), which published the index, said this was in line with seasonal trends and the figure was still down by 3% on the same quarter of 2019.

Laura Hughes, the ABI’s manager of general insurance, said: “Despite a year like no other, it is good to see that during 2020 motorists continued to get the best deals in a competitive motor insurance market.”