A new survey by a car insurance comparison website has found that we are now paying £100 more a year on our policies.
They surveyed 873,00 of the people that use their site, as well as analysing quotes given out on a daily basis throughout 2016…and the general conclusion is that UK motorists are paying more for car insurance, about £100 more than at the same time last year.
For example, in January 2016 the average car insurance quote outside of major cities such as London and Birmingham was £500. Fast forward nearly 12 months and the average quote is now £597.
Car Insurance Quotes Differ by Region
This isn’t true across the board though, and if you split the survey into certain regions and cities then you will find places where car insurance has become cheaper.
Recently, I talked about how Scotland is the cheapest place in the UK to insure your motor vehicle. This holds strong across all of the cities in Scotland, such as Glasgow, Edinburgh and Inverness.
So why is insurance getting so expensive in most other parts of the UK? Is it simply a case of the insurance companies wanting to get more money out of their customers, or is there something else at play? In my opinion there are a number of factors, some of which you can’t do anything about, but a few that are in your control.
An example would be the huge number of cash for crash scams that have hit the insurance industry recently.
While a few of the organised gangs have been brought to justice, there are still hundreds, if not thousands of criminals involved in these scams on a daily basis and it is costing the industry millions of pounds.
Unfortunately, it’s you that is picking up the bill, and this is one of the reasons why car insurance is now £100 more expensive.
How to find Cheaper Car Insurance
There are things you can do though. Consider always getting multiple quotes when looking for brand new insurance or renewing an existing policy.
Compare different companies, and even try getting quotes on different days and at different times of the week. Sometimes it can be cheaper on a Wednesday than on a Saturday for example, due to the demand. It’s definitely worth trying.
Recent statistics suggest that motorists can save approximately £280 by shopping around extensively, and while doing so may take up a few hours of your time, if you can save nearly £300 a year then for many people it is going to be worth it.
Also, make sure you fill out the car insurance application in full and with as many details as possible. The more details insurance companies have to work with, the more chance they can give you a cheaper quote that is accurate for your situation.
The message here is clear. If you are willing to put in the effort then your car insurance can become a lot cheaper. However, if you do the bare minimum and only get 1 or 2 quotes then you’re probably going to paying more. Around £100 more if the new survey is to listened to.