The average annual premium is £711 — down £66 on a year ago, according to stats based on more than six million quotes.
But drivers are being warned not to relax just yet.
Signs suggest the downward trend may be running out of steam, with prices already creeping up for some groups and in some parts of the UK.
Older motorists are among those seeing rises.
Premiums for drivers aged 70 and over are up by as much as £13 in the past three months.
Experts say now is the time to shop around and lock in a deal before further rises hit.
Younger drivers are still paying big sums, but many are at least seeing savings compared with last year.
The average 17-year-old now pays £1,741, down £517, while 18-year-olds pay £2,082, a drop of £352.
Even so, premiums remain far higher than five years ago.
Almost two in five drivers said their renewal quote rose in the past three months.
Those who switched insurer saved an average £72.
Price comparison website Confused.com was behind the research.
It said: “The biggest thing to consider is when you shop around.
“Leaving it until the last minute can in fact mean you pay more.
“Our data shows that 28 days is the ‘sweet spot’ for when drivers typically pay the least for their insurance.”
IT’S REVO-LOOT
FINTECH giant Revolut has reported a record £1.7billion profit after a bumper year — just weeks after it won approval to become a fully-fledged bank in the UK.
Revenues surged 46 per cent to £4.5billion and customer numbers jumped 30 per cent to 68.3million, with those in its business arm rising a third to 767,000.
Boss Nik Storonsky said it aimed to become a “truly global bank” following its “landmark year”.
