Northern Ireland vehicle insurance prices fall but still above United Kingdom average

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According to the Confused.com Car Insurance Price Index, produced in association with Willis Towers Watson, UK motorists now pay £768 on average as premiums continue to decline.

The cost of auto insurance policies fell £13 on average during the first three months of 2018, according to Confused.com's latest price index.

Our bills are, however, £167 above the United Kingdom average, according to the latest quarterly analysis by price comparison website Confused.com.

As usual, the biggest premium is paid by male drivers aged between 17 and 20 - £2,348 on average, compared to the £1,699 paid by their female counterparts.

According to the Car Insurance Price Index the cost of comprehensive car insurance fell across the United Kingdom with all regions experiencing a quarterly decrease.

The smallest premium is paid by female drivers aged between 61 and 65with a bill of just £363, which is less than half the national average. "More than one in three motorists did this past year, overpaying on their insurance by £600m as a result".

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Confused.com attributed the fall in premiums to a mixture of whiplash reforms and the so-called "Ogden rate".

"Insurers seem to have softened prices as the government announces a review of the Ogden Rate discount, expected in April 2019, which could mean insurers pay out less when drivers make a claim", according to the executive summary of Confused.com's latest price index.

Costs for insurers have eased off after the government reformed laws to crackdown on whiplash claims. In September previous year, the government backtracked after the insurers said the new formula would overcompensate crash victims. The government claimed that drivers would save as much as £35 per year on the cost of their policies. The cost of running a vehicle has become unmanageable for a lot of people in the last two years and this new data will offer a ray of light for those who need to drive, but are struggling to meet the costs.

As for the different age groups, the largest quarterly cut (11%) was enjoyed by 27-year-old motorists, whose premiums now stand at £933.

Outside of Scotland, motorists living in Central and North Wales saw the second biggest price rise, with premiums up by £10, or 2 per cent, to £629.

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