How much is car insurance in the UK?

MoneyExpert.com car insurance is an auto insurance comparison site that can help you find the right car insurance at a discount.

Since they don’t represent just one auto insurance company in the UK, you can trust a great deal of their advice.

The first thing you want to do is decide whether you need comprehensive insurance or simply liability. If you are financing a newer vehicle, chances are your lender requires you to have comprehensive coverage in order to recoup as much as possible the value in the case of an accident

If you have a 10-year old Volkswagen with 100,000 kilometers on it, why buy comprehensive insurance when in the event of an accident they may pay you only a few hundred pounds for the value of your car.

Next, figure out every angle to pay less for your insurance. For example, if you pay the entire thing upfront for a year, you’ll save quite a bit of money overpaying by the month.

Second, improve your security. At a minimum, buy a steering lock for your car. Or install and alarm. The less likely your car is to be stolen, the cheaper auto insurance companies can afford to charge you and still make a profit.

Third, raise your voluntary excess or deductible. Raising your deductible to around £1,000 pounds can save you a lot of money. Just be sure and not raise your deductible too high or you will suffer severely in the event of an accident.

Fourth, apply for a no claims discount. Yes, in the case of minor accidents you will pay everything out of your own pocket but the fewer claims you make, the cheaper your insurance quote will be and this discount will build up over time.

Fifth, consider reducing your miles. Insurance costs are based upon how many miles you drive your car. Typically, around 1600 miles will be the base rate. Drive more than that and your insurance will definitely go up.

Sixth, install a black box.

A black box tells your insurance company how fast you drive, whether you accelerate frequently, how often you need to slam on the brakes etc. If you are a good driver, then you have nothing to fear from installing a black box and your rates will definitely go down. If you are not a good driver, you are aware the insurance company will know and you will be cautious to change your approach.

So how much do people pay in the UK for insurance? Typically, most people pay £485 for Comprehensive auto insurance.

Note, that if they use their car for the business they will typically pay more. Third-party insurance is the minimum insurance you may obtain and will only cover your liability to another party.