UK car insurance cheaper in 2014

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The average cost of a motor insurance policy in the UK fell by £51 last year to £594, according to the Confused.com Car Insurance Price Index in association with Towers Watson.

Despite an increase in prices of £12, or 2%, in the fourth quarter, the average comprehensive motor premium fell by 7.9% over the year, following decreases in both 2013 and 2012.

Drivers under the age of 23 benefitted the most from the price decreases and according to Confused the competition for 17-year-olds was intense

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