It was only a few days ago that I reported about how parking in London was really expensive…well it seems that car insurance is exactly the same.
A new report has found that people in London, on average, pay twice as much as people in other parts of the UK. I think Londoners could do with finding a cheap car insurance company…they need one if this report is right.
Insure Your Car For Nearly £1,500 per Year
As the statistics show, it costs an average of £1,460 to insure a car in our nations capital, while it only costs £714 elsewhere. Perhaps in other parts of the country there are more cheap car insurance companies? That could be one of the reasons, but the reality is that London is just expensive.
The South-West is the place to be for very cheap car insurance, where on average it costs £800 less to insure your car than in London.
However, there may be a reason why Londoners are expected to pay more for the privilege of insuring a motor vehicle, as the report also went on to say that cars in London are some of the most expensive in the country, with the average value coming in at £10,232.
Not only that, but as I’ve talked about before, there are many car insurance scams happening right now in The UK, with most of the gangs operating from London. The simple fact of the matter is that if you live in the capital then you are more likely to have your car stolen or be involved in some kind of scam.
What can Londoners Do?
So what should you do if you live in London and you don’t want to pay so much to insure a car? Obviously, for most people moving to a different area is not a valid solution. In my opinion, the answer is to find a cheap car insurance company who can give you a significantly cheaper quote, where you might even be able to save a few hundred pounds on what you’re currently paying.
Firstly, always make sure you do everything possible to get very cheap car insurance. Good examples include parking your car off the street, installing telematics, adding a tracking device and fitting an alarm.
Secondly, you can find cheap car insurance companies by using a comparison website. Gone are the days of going from site to site and contacting each one individually, these days all you need to do is fill in a simple form.
Just give it a try. If you live in London then you won’t get the very cheapest quotes, but you could still make some good savings.