The average cost of cheap car insurance is around £500 per year—for a Ford Fiesta driven by a 50-year-old driver with a £300 excess. But the price you pay will vary depending on factors like the type of car you drive and your age. We researched UK comprehensive car insurance to find the average cost of cheap motor cover across driver ages and for the 5 most popular car models: Ford Focus, Ford Fiesta, VW Golf, Nissan Qashai and Mercedes Benz A Class. Use this information to help spot a good deal.
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Average Car Insurance Costs by Age
To see how driver age impacts the cost of comprehensive car insurance, we gathered quotes for the UK's most popular car, a Ford Fiesta, across a range of ages. Rates typically drop throughout adulthood until around 60 years of age. In our study, premiums dropped 45% between the ages of 20 and 55, then rose again by 60% from age 55 to 75. Prices are higher for younger and older drivers because insurance companies perceive a higher risk of road traffic accidents amongst these age groups.
|Average Cost of Cheap Comprehensive Car Insurance, by Driver Age|
For information on the cost of auto insurance for very young drivers by city, please see our article Average Cost of Car Insurance for Young Drivers.
Average Car Insurance Cost for Drivers in their 20s
In general, younger drivers will pay more for insurance than more experienced drivers. We found that drivers aged 20 were charged an average quote of around £850; those just 5 years older would pay 15% less, or £720, for cover. Higher premiums are theoretically justified because younger drivers are statistically more likely to have an accident. Younger drivers not only have less experience but they're known to engage in riskier driving behavior, and therefore present a higher risk to insurance companies.
Cost of Car Insurance Increases For Drivers in their 60s
While car insurance premiums decrease substantially for both male and female drivers in their 30s, 40s and 50s, our research showed that insurance premiums begin to trend upwards for drivers in their 60s. This is because insurers think drivers will become more accident-prone as they age. In fact, from age 65 to 75 we found that a driver can expect their premiums to rise by around 50%.
Average Car Insurance Costs by Car
Not surprisingly, we found that the cost of car insurance increases with the underlying value of the car. This makes sense since a more expensive car requires a larger payout by the insurer in case of theft, and typically costs more to repair in case of damage. For example, a 45-year-old driver would pay around £575 to insure a £12,000 Ford Fiesta, or £812 to insure a £33,000 Mercedes Benz A Class 220.
|Car||Average Cheap Car Insurance Premium|
|Mercedes Benz A Class 220||£812|
Anyone considering buying a motorcycle instead of a car might be interested in learning about the average cost of motorcycle insurance, which starts around £340 per year for the ever-popular Honda PCX.
To determine the average cost of car insurance for UK consumers, we first collected quotes from our car insurance partner QuoteZone. To get an idea of the true cost of a "cheap" policy, that is, how much someone might need to pay to secure cover, we averaged the 5 cheapest quotes to reflect costs for a range of policies at the low end of prices.
In order to standardize our results, we made certain assumptions about the type of plan and level of coverage sought by the average consumer. This study assumes standard comprehensive coverage and excludes optional features, like protection for a no claims bonus.
Another way we standardized our results was by holding all driver profile variables constant, expect for age and make/model of car as explained above. The driver is an unmarried male who owns a 2019 model car and has been driving since 18 years of age, hasn't filed any claims, has accumulated up to 5 years of NCD (No Claims Discount), drives 5,000 miles per year and parks in a private driveway. He works indoors as a professional.