UK Car Insurance Costs Soar to Record High

Rising costs of driving put financial strain on British families, with young drivers hit hardest.

The average cost of car insurance in the UK has risen to £995, marking a 58% increase over the past year.
The cost of buying a car has also significantly increased, with prices for a 10-year-old hatchback rising from £1,748 to £5,547 since 2013.
The rising costs of driving, including insurance and petrol, are putting financial strain on British families, with a third of drivers saying they'll need to take on debts to keep driving.
Young drivers are particularly affected, with insurance premiums for motorists aged between 17 and 20 doubling over the past 12 months.
The rising costs are attributed to factors such as increased repair and replacement parts costs, global supply chain issues, and a shortage of labour.