You have to pay how much? Why?

Looking for affordable car insurance? You have come to the right place. Using a price comparison engine to look for car insurance quotes could save you a great deal of money and will only take you a very short time.

Which company offers the lowest priced UK car insurance?

Every one of us is different. We have different driving experience, cars, addresses, jobs. All these factors and more affect how much we are expected to pay for car insurance. However how these factors affect the premium varies from one insurance company to another. This is why we get widely different premiums when we compare prices with multiple insurers.

Why is car insurance expensive?

It is actually very low priced compared to insurance in many other countries! This is because competition between insurance providers is intense, partly because of the ease of using price comparison systems such as ours.

Many motorists, particularly those who are younger or just less experienced, can find premiums to be very expensive or even unaffordable though. This is because insurers feel that they are at greater than average risk of being involved in an accident. The best way to reduce these premiums is to reduce your risk factors but this is not always possible. Often the only way to get the lowest possible price is to compare as many as possible from different insurance providers.

Which factors affect car insurance prices?

Insurers have records of accidents going back for many decades so they can pinpoint features which statistically affect not only the likelihood of individual motorists being involved in claims, but also the likely cost of these. The major ones are:

  • Age: younger drivers statistically are more likely to have accidents because they tend to take more risks, and although they usually have quicker reactions than older motorists, they lack experience and so have less instinctive response to potentially dangerous situations.
  • Home postcode: some postcodes suffer higher than average incidences of motor theft, vandalism and fraud. Also many intercity areas have higher than average minor collisions because of traffic congestion.
  • Occupations: statistically, people in certain professions such as nursing, teaching, and childcare have far fewer accidents than those in others such as sports, entertainment, and hospitality, which have more on average, probably as a result of their different lifestyles.
  • Type of car: whilst many modern cars have good roadholding, braking and steering systems, lots of others, particularly older models, lack these and other safety features such as impact protection, autonomous emergency braking, stability control and many others.
  • Engine size: although larger cars offer more protection to drivers and passengers, the larger the engine, the faster the car can go and the more damage it can do in an accident to other people or their property.
  • How costly the car is to repair: more than half the cost of every insurance claim is for car repairs but these can be inflated by long waits for spares so not only the cost of components and the ease or difficulty of replacing them is important, but also availability.
  • How secure the car is: car theft is a huge problem and so alarms, secure locks and tracking devices can reduce premiums, particularly on high value cars.

All cars are rated by Thatcham Research, which is a company set up by the motor insurance industry to help reduce car insurance costs and increase safety standards. Nearly all modern cars are rated from 1 to 50 (one being the group least likely to be involved in accidents) by Thatcham and you can check individual car ratings on the Thatcham website.

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