If you’ve been wondering where is the best place to live for cheap car insurance then you finally have your answer thanks to a new survey.
The result? The Isle of Man comes out on top, with an average car insurance price of just £267.28.
I’m sure there are plenty of people in the UK who would like to pay that for their yearly premiums, especially those who live in London, as not surprisingly it was the capital that came in as the most expensive place to insure a motor vehicle.
Would you believe that an average yearly car insurance premium in London is £1,330.07? For many people paying this amount of money is laughable, especially when you consider that in places like Exeter and Dorchester, the average car insurance payment is only £350.00. That means you have to pay nearly £1000 more in London.
The second most expensive place to insure a car in the UK is Manchester, with an average of £1,235.74 per insurance policy. Of course, it’s worth noting that this is central Manchester and not in the suburbs where insurance is significantly cheaper.
Ultimately, each car insurance company has to determine what chance a car has of being stolen or being involved in an accident in a certain area, and obviously with these statistics we can see there are many areas in London and Manchester that attract a higher premium.
If your area has very little crime and not much traffic, then you will no doubt enjoy some of the lowest car insurance quotes in the country.
However, if your street has a different car stolen every week, or every time you get to the top of your street there is a traffic jam then expect to be paying higher premiums.
Really I think that paying over £1000 a year for car insurance is way too much no matter where you live, and if this is the kind of quote you get then you should definitely shop around a bit and try and get a better quote elsewhere.
That’s why I always tell people…spend time when getting car insurance quotes and don’t always take the first one that is offered to you.
If your quote is just way too much then you could try moving elsewhere, or even go without a car altogether. For most people though this just isn’t realistic, and car insurance is simply an expense they must pay every month.
It’s worth noting that while the survey is generally correct when determining the average price of car insurance in locations, it’s not always right, mainly because you can have one street that has high premiums while another one round the corner is the complete opposite.
So don’t assume just because you live in London or Manchester you are going to be paying over £1000.