Motorists are facing significantly higher car insurance premiums this year but a new cashback deal may help those who need to renew in the coming months. The new deal comes as car insurance premiums reach their highest level since 2020, rising by an average of £68 year-on-year.
A report from Compare the Market shows car insurance premiums averaged around £688 in the first three months of 2022, compared to £620 a year ago. The rise means the cost of car insurance is now at the highest level seen since the last quarter of 2020, when premiums averaged £724.
But there is help out there. By shopping around on comparison sites like Money Supermarket, Compare the Market and Confused.com you can get a better deal for your area, and even better there's currently a cashback offer to be had too, which in the long-run will help lower your monthly or yearly bills, depending on how you pay.
