The cost of insuring your car is based upon a number of factors including things like your age, the make and model of the car you wish to insure, the level of cover, what you do for a living, your driving history, where you park your car overnight i.e. on the drive or on the road outside your home and where you reside in the UK.
Scotland was, on average, the cheapest region in the UK to insure a car in the 3rd quarter of 2016.
According to information contained in the AA British Insurance Premium Index covering the 3rd quarter of 2016, the cheapest region to insure a vehicle based upon TV regions is in STV (Scotland). The average cost of car insurance in that region in the above quarter was £422.10 per annum. In quarter 2 of 2016, the average cost of such cover was £406.89 per annum so there has been a rise of 3.7% between those periods.
Things that affect the regional cost of motor insurance will no doubt include the claims history for residents in each region. For instance, the number off accidents and car thefts no doubt impact on the cost.
The next cheapest region was the West and West Country where the average premium in the 3rd quarter of 2016 was £483.12 per annum. In the 2nd quarter of 2016 it was £466.36 so there has been an increase of 3.6% between these periods.
The 3rd cheapest region was Meridian (South) where the average car insurance premium was £497.67 per annum. In the 2nd quarter of 2016 the figure was £479.38 per annum so there has been a rise of 3.8% between those periods.
The most expensive region in which to insure a car was in UTV (Northern Ireland) in which the average premium was £861.79 per annum in the 3rd quarter of 2016. In the 2nd quarter of 2016 the cost was £774.25 per annum with this being a huge increase of 11.3%.
That means that, in the 3rd quarter of 2016, Scotland was, on average, more than 50% cheaper to insure a car than in Northern Ireland.
Those residing in London paid an average of £722.57 per annum for their car insurance in the 3rd quarter of 2016. In the 2nd quarter of 2016 the cost was £700.26 per annum so that is a rise of 3.2%.
In fact, all regions in the UK saw the average cost of insuring a vehicle increase when comparing Q2 and Q3 of 2016.
Those motorists either looking for car insurance for the first time or those who have just received their renewal documents may wish to consider shopping around to try to obtain a competitive level of cover. One of the ways of doing this may be to use the likes of a price comparison website.
