Average cost of car insurance down 12.5%

The average cost of insurance is now 12.5% lower than it was a year ago, thanks to new EU rules on gender equality.

That’s according to over four million quotes analysed on Confused.com.

On Bing: see pictures of male drivers

Women and car insurance – all the facts

The rules, introduced at the end of 2012, said a person’s gender shouldn’t affect their insurance premium.

As a result, the annual cost of a fully comprehensive car insurance policy now averages at £644 – down from £735 in January 2013.

It also signifies a drop of 24.9% since the average car insurance price peaked at £858 in June 2011.

Despite the gender ban on car insurance prices, men on average still pay more than women. Between October and December last year, men paid £671 on average compared to £610 for women.

Head of car insurance at Confused.com Gemma Stanbury:

“Although insurers can’t set prices differently based on gender, there are many factors taken into account when rating for car insurance.

“For example, men typically drive more powerful cars which means their insurance would be more expensive than women.”

Cheapest cars to insure for 17-18 year olds

Find out how much a used car costs on Auto Trader

On Bing: see pictures of male drivers

Women and car insurance – all the facts

By motoringresearch.com