Car insurance prices soar by 284 in just 12 months in blow to motorists | Personal Finance | Finance [Video]

The price of car insurance has soared by 43 percent over the last 12 months, new research has found.

The average cost of car insurance is now £941, after increasing by £284 (43 percent) in the past 12 months according to the latest car insurance price index from Confused.com.

While prices are higher for those shopping around annually for their car insurance, the data shows that the cost of car insurance dipped slightly at the beginning of the year. 

Prices fell by £54 (-5 percent) between January and March this year, offering some drivers some respite from significant increases.

But even though prices have dropped compared to the end of last year, drivers are still paying more now than they were at their last point of renewal.

Difference in prices over 5 years