Average cost of car insurance in Northern Ireland now £1,051 - up 57% (£387) in just 12 months - says confused.com

Prices in the region are now £383 (57%) more expensive, on average, compared to 12 months ago and the steep increase means that prices in Northern Ireland have topped £1,000 for the first time.

But drivers all over the UK are affected by high prices for their car insurance. The UK average now stands at £995 - an increase of 58% (£366).

Why are prices so high at the moment?

Inflation has played a key role in the rise of car insurance costs, due to the impact on the cost of repairs and claims.

Since the end of the pandemic, the number of cars on the road has increased to a normal, if not inflated level.

This means the risk of accidents and claims is a lot higher than before. And the amount insurers are having to pay for these claims has increased too, as parts and labour costs are all impacted by inflation.

Similarly, cars are holding their value for longer, or are generally equipped with more technology or expensive equipment.

Louise Thomas, motoring expert at Confused.com car insurance said: “Like a lot of our expenses, car insurance is getting more costly.

"And this is to be the case for some time. Claiming is one of the biggest factors when it comes to insurers pricing up policies. And with the cost of paying out for claims being considerably high, insurance prices are going to be too.

“While it looks like increases could be slowing, we still need to be doing what we can to keep these costs as low as possible.

"Things like increasing security, reviewing how many miles you drive or adjusting your excess could bring your overall cost down.

"But it’s important to remember that the information you’re providing should be accurate otherwise you risk invalidating your policy if you need to make a claim.

“Ultimately, shopping around is the only way to know you’re paying the cheapest price available to you. With prices so high, it’s a very competitive market. So if you look around, there’s likely to be an insurer out there willing to offer a cheaper price.”

In comparison to this time last year, prices are up £366 (58%), on average. While this is a significant change over a short time, it's still considerably lower than the changes over the last 6 months.

Between March and September last year, prices increased by 41%, or £267, on average. This worked out at increases of 18% and 19% for each 3 month period.

However, as it stands, prices are still rising, and some drivers could be paying significantly more for their premiums if they choose to renew.

While prices are up across the board, it’s clear from the data that those who choose to shop around rather than renewing their policy could be better off. And this could be a key consideration for some drivers, who are paying significantly more than the UK average.

The latest data shows how drivers aged between 17 and 20 have seen their premiums rise by more than £1,000, on average, compared to 12 months ago

For 17 year olds, this is a 98% increase year-on-year, equivalent to £1,423, on average. This brings the average price of a policy to £2,87

Meanwhile, a £1,447 (84%) increase in prices for 18-year-olds means they’re paying more than £3,000 for the first time.

Their premiums reached £3,162 on average.

Hefty increases also means that drivers up to the age of 43 can expect to pay £1,000 or more for their car insurance, on average.

And men continue to pay more than women for their car insurance.

The latest data shows how the average price for male drivers tops £1,000 for the first time.

Prices are now £1,061, following a £389 (58%) annual increase.

For women, prices have increased similarly, but still remain cheaper.

On average, prices are now £327 (59%) more expensive in comparison to 12 months ago. That’s a difference of £177 between the two.

With prices increasing significantly, it’s a bleak time for drivers and their car insurance. That’s even if they’re able to save compared to the year before.

But experts at Confused.com urge drivers to review their policies to see if there are other ways they can save. Especially as the cost of living crisis continues to impact many.

There are some tips drivers can try to keep costs down when it comes to renewal.

Use a price comparison site - When it comes to keeping costs down, the best thing you can do is compare prices.

Pay for your car insurance annually - If you can afford it, pay for your insurance in one go rather than monthly.

That's because insurance companies often charge interest for spreading the cost of your cover over the year.

Increase your voluntary excess - Increasing your voluntary excess can help you get cheaper car insurance. But you need to make sure you can afford to pay it, if you need to claim.

Be accurate with mileage - Generally, the more miles you drive, the more likely you are to have an accident and make a claim.

This means the higher your mileage, the more you pay for your car insurance. So, driving fewer miles can be a great way to save money on your car insurance policy.

But don't assume that a low mileage always means low prices. If you barely drive at all, your insurance company could see that as a risk as well.

For more advice on how to reduce costs, visit Confused.com’s guide on how to get cheaper car insurance.