Car Insurance Cost

The cost of car insurance varies hugely – based on a number of factors including:

  • Your age
  • Years of experience
  • Claim history
  • Security features
  • Repair cost
  • Performance of your car.

In recent years, safety features such as radar controlled automatic braking also help to reduce the cost of insurance.

In the UK cars are assigned to an insurance group and these groups vary from 1 to 50. 1 is the lowest and 50 is the highest.  The average cost of car insurance is £481 per year.

Types of Car Insurance

Car insurance is available as fully comprehensive or third-party only. Fully comprehensive (also known as fully comp) has the most protection. Third-party includes fire and theft cover, plus damage of other vehicle(s)  (but not your own) where you were at fault.

Most companies allow you to pay the insurance annually or monthly – monthly is almost always more expensive.

How to get Cheap Car Insurance

To find the cheapest car insurance you need to get quotes from a number of companies. You can do this yourself by going to each website or you can use a car insurance price comparison website to help save time. Sometimes adding a second driver (assuming they will sometimes drive your car) can help to reduce the price of your policy. In addition, there are often some optional extras that you can choose from – for example legal protection, breakdown cover – decide exactly what you need and don’t select anything you already have (for example, many new cars include breakdown cover for the first few years anyway).