The findings revealed that United Kingdom motorists are now paying £768 on average which is 2% less than this time past year and the first annual drop in prices since 2015.
If new vehicle insurance premiums figures are anything to go by, then it looks like it's good news all-round in the United Kingdom - with consumers seeing the first annual fall in prices in three years, as well as the cost of comprehensive cover dropping quarter-on-quarter among all regions and age groups. It said prices peaked in the last quarter of 2017 but have since fallen 7%.
The average male driver between 17 and 20 pays on average £2,348 per year, compared to just £1,699 for women of the same age. The cheapest average insurance is paid by female drivers between 61 and 65, at £363.
The price auto owners pay for insurance also depends on the sex of the driver and the type of vehicle being driven.
Men are still paying more than women - £95 more a year - although that difference is lower than £114 a year ago, according to the vehicle cover index, which is based on data from nearly six million customer quotes per quarter. Although insurers can't set premiums based on gender, women generally pay less because they have fewer high-value claims and motoring convictions.
Confused.com attributed the fall in premiums to a mixture of whiplash reforms and the so-called "Ogden rate".
That is according to research by Confused.com, which said the lower prices reflect an optimistic outlook for insurers following changes to the discount rate and a crackdown on whiplash claims.
"The government has also announced a reform to the way whiplash claims are calculated and paid, which may have also had an impact", it said. The sum is around £13 cheaper than the same period a year ago.
Despite the cost of comprehensive policies falling the first time in three years, some 70% of drivers saw their premiums increase at renewal.
In Scotland, premiums are also still increasing, with motorists in the Scottish Borders area suffering the largest increase (6%) since previous year.
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.