Insurance EstimatesThe price of a comprehensive insurance policy has risen by 40 per cent in the last year, with the average premium now standing at £892.

According to figures by the AA British Insurance Premium Index, drivers aged 17 to 22 have seen premiums increasing by 64 per cent to £2,431, while the biggest rise was to Third Party, Fire and Theft cover, with premiums soaring by 82.1% to £1,533.

We asked Auto Trader’s Facebook Community and an overwhelming 67 per cent told us the cost of insurance is now a major concern and a key factor when choosing your next car.

Nick Wilfang, 19, from Romford had a shock when he tried to insure his 2003 1.3-litre Fiesta. He said: “I had one quote for £15,000. The deal I settled on was £5,000 for fully comprehensive cover- that’s £1,500 more than the car cost to buy.”

But Nick’s isn’t alone. Last month Daniel Grey from Southport was quoted £24,000 to insure a 12-year old Volvo and Jake Redshaw from Salford stumped up almost £6,000 to insure his Vauxhall Corsa, after receiving a quote for £32,000.

Instant Insurance Estimates tool launches

With this in mind, Auto Trader has launched a new Insurance Estimates tool, generating an instant estimated insurance price alongside each car advert when users enter their gender, age and no claims discount.

The estimates are calculated using historic data of comprehensive cover from Auto Trader’s insurance comparator tool and are a reflection of insurance prices in today’s market.

Once the tool is activated, an Insurance Estimate appears in the bottom right-hand corner of each advert, saving time by calculating prices for multiple cars automatically.

The tool has already been rolled out across a large number of searches, with many more appearing over the coming weeks.

If an estimate isn’t available for your search criteria or you’ve chosen the car you want, you can compare over 400 insurance prices with Auto Trader to find the right policy at a price you can afford.

Find out more about Insurance Estimates

How Auto Trader can help:
Compare car insurance
Buying a used car
Setting your budget