THE cost of car insurance in the UK is at the lowest point in six years, according to new data from

Drivers have been saving close to £100 when taking out a new policy.

The research is based on more than six million quotes per quarter and is the most comprehensive car insurance price index for new policies in the UK.

Drivers can now expect to pay £514 for their car insurance, on average.

Prices haven fallen by £97, which is 16 per cent in 12 months.

This is the steepest drop in prices since the first quarter of 2014.

This is the fourth consecutive quarter where the cost of car insurance is significantly cheaper than the previous year, which could be attributed to the change in driving habits throughout the COVID-19 pandemic.

During this time, research found that UK drivers reported a significant drop in how frequently they were driving, and police reported a 26 per cent decline in the number of accidents attended to.

As risk fell, insurers were able to reduce their prices to reflect the fact that fewer claims were likely to be made, meaning drivers were able to make significant savings when shopping around for their car insurance.