There are many factors that impact upon how much car insurance providers charge for covering your car such as the make and model of vehicle, your age and driving experience, how many miles you drive each year, what you do for a living and what you use your car for. Another thing that insurers look at when calculating the premium is where you live.
Insurance companies look at how likely you are to claim on your policy and certain parts of the UK are more likely to have higher crime rates such as for car theft. As a general rule, you are more likely to be involved in a road traffic accident in an area that has more traffic such as in cities and large towns rather than if you live in the countryside. The number of people living in a region is also likely to have a bearing on how much you are charged for your cover. The insurers will take into account how many accidents take place in a region as well as how many claims are submitted by motorists on their motor insurance policies.
The price comparison website CompareTheMarket.com has recently carried out some research into how much regions in the UK charge for providing car insurance and below are the results for the average annual premium: –
1. South West £542.87
2. Scotland £561.10
3. Wales £614.99
4. South East £636.89
5. North East £658.32
6. East Midlands £666.37
7. East Anglia £667.77
8. Northern Ireland £745.02
9. Yorkshire & The Humber £755.64
10. West Midlands £798.19
11. North West £823.68
12. Greater London £1,098.23
As you can see, average car insurance premiums are the cheapest in the South West followed by Scotland and then Wales. You can also see that the most expensive region is Greater London. In fact, the average cost of insuring your car in Greater London is more than twice of what it would cost to insure your car if you lived in the South West. This is a sizeable difference.
If you are looking to renew your car insurance or require insurance for the first time then you may wish to shop around for your cover. A great way of doing this is by using one or more price comparison websites although do bear in mind that not all insurance companies advertise their policies on such websites. It is quick and easy to use a price comparison website with comparative quotes being provided from numerous companies in minutes.