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The AA British Insurance Premium Index (Index) has been tracking the quarterly movement of car and home insurance since 1994.
It measures the market average premium (an average of all quotes on UK-representative baskets of 'customers') as well as the five cheapest quotes for each 'customer' to provide the Shoparound index.
The Index records premium movements for 2,800 car insurance 'customers' throughout the UK, from around 80 providers. The premiums are averaged to provide a market 'average quoted premium', while the Shoparound premium is an average of the cheapest five premiums returned for each 'customer' in each basket of risks, and is thus closer to what customers pay for their cover.
For home insurance, average premium movements are calculated from 750 customers in each basket of risks separately for buildings, contents and combined covers and from about 70 insurers, brokers and schemes.
The Index started separately tracking for comparison sites (aggregators) from the fourth quarter 2009. The same baskets of risks for both home and car insurance are used to obtain prices from selected comparison sites, and works in the same way as the main Index.
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British Insurance Premium Index
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Drivers reveal that nearly 40 per cent of them had crashed by the time they were 23 years old.
Find out more in the AA Charitable Trust and Make Roads Safe report on young driver safety (July 2012).