Wheelie good deals: cheapest cars to insure in the UK revealed

A new report from Go.Compare Car insurance has revealed the top ten cheapest cars to insure, and not all are the small, low-power models you’d expect.

With the comparison sites’ latest car insurance price index revealing that the average cost of car insurance is £450*, the experts have taken a look to see how the prices vary depending on the car you choose.

The new data shows that the Mazda MX-5 is the cheapest to insure, costing £250 on average, while the Peugeot 206 is in second place, costing an average of £255.** 

Typically it’s small, less powerful cars with good safety credentials that cost less to insure, such as the ever-popular Peugeot 206 and the tiny Smart Fortwo. However, there are a few surprises on the list: the Saab 9-3, a compact executive car, is the 9th cheapest car to insure, and the Volvo S40 also sneaks into 10th place, costing just £290 to insure on average.

As Tom Banks, car insurance expert at Go.Compare explains, that the model of the car is just one of many factors that insurers consider: “When an insurer offers you a quote for your car insurance, they take into account a whole range of factors - your age, the area you live in and where your car is parked can all impact the price, including which car you drive. 

“Generally speaking, more powerful, sporty cars with larger engines are more expensive to insure, while cars with smaller engines can be more affordable to insure, as well as to run.

“While it’s likely not cost-effective to change your car in order to lower the cost of your insurance premium if you are in the market for a new car anyway, then it’s definitely worth researching how much different models cost to insure. And if you aren’t about to buy a new car but your premiums have risen, there are certain things you can do to try and lower the cost of insuring your vehicle. Our top tips include:

• Pay annually: Paying monthly for your car insurance could cost you more - insurers view this as a loan and add interest, making it more expensive over the year. So if you can afford to, pay it all in one go.
• Consider the cover type: While you might think that opting for less cover is cheaper, this isn’t always the case. Our data shows that third-party-only policies cost an average of £588, £138 more than comprehensive policies (£450).*
• Job descriptions matter: If there are multiple titles you can use to describe your profession accurately, try them all out, as your car insurance premium could vary depending on which you use - but remember to always be truthful and accurate with your insurer.
• Time when you buy: Our data shows that you can make some serious savings if you shop in advance of your renewal date. In fact, it could cost you 30% more if you leave it to the day your policy is due for renewal. ***”

For more top tips on how to get cheaper car insurance, visit: https://www.gocompare.com/car-insurance/guide/top-tips-for-cheaper-car-insurance/ 

And to read more about the cheapest cars to insure, you can read the full report here: https://www.gocompare.com/car-insurance/cheapest-cars-to-insure/.