The average cost of car insurance in Wales have reached a new record high of 拢694 .
According to new research from Cardiff-based price comparison firm Confused.com, prices have increased by 拢241 (53%) in just 12 months. Over the last three months it has risen by 拢109 (18%), as the cost of meeting claims continue to spiral in the face of inflationary pressures.
Its insurance price index, shows that in South Wales car insurance increased by 拢257 (54%),to 拢730. In Mid and North Wales the average cost is 拢613, following a 拢204 (50%) rise in the past 12 months
The most expensive location in Wales is Cardiff, where prices are now on average 拢779,, following a 拢273 (54%) annual increase. For Newport the prices has risen over the last year by 拢258 to 拢727, while in Swansea it is up to 拢213 to 拢665.
Although prices did increase by 拢184 (50%) in comparison to this time last year, Llandrindod Wells is currently the cheapest area for drivers in Wales at 拢548.
Across the 海角视频, all nations and regions are seeing prices soar, Inner London has the highest average car insurance at 拢1,503, having increased 拢567 (61%) in just 12 months.
Louise Thomas, motor expert at Confused.com car insurance, said: 鈥淔or another consecutive quarter, we鈥檝e seen some of the highest inflation rates when it comes to car insurance. With prices up on average 拢148 (19%) in just 3 months, and 拢338 (58%) in 12 months, drivers are likely to be paying more than ever. So those who haven鈥檛 yet been affected should be wary of how pricing may affect them at their next renewal.
鈥淏ut there are deals around and drivers can still save money, even if they鈥檝e noticed their renewal has gone up. And in a time of financial uncertainty, this can be really helpful if you鈥檙e needing to watch your money more closely than before. So if you鈥檙e due to renew, consider ways in which you can keep costs down. Whether it鈥檚 reducing your mileage or improving your car security, these can certainly help. But remember to always be truthful to your insurer, otherwise you risk invalidating your policy.鈥
