To some people, it might come as a surprise to be quoted £1500 for a car which is worth only £500. However the car insurance industry seems to be getting more expensive every year. Blame it on the recession, the increased number of uninsured drivers or a rise in motor accidents but the fact remains that getting a car insured these days can cost you quite a lot. Therefore before even buying a car, it is worth looking at the cheap cars to insure as this will save you from beating your head against the wall afterwards.
Of course, this approach does not give you much choice in the first place. You could have set your eyes on the latest Audi out there but when you find out that it’s going to cost you several thousands of pounds to get it insured, you’re most likely to change your mind, unless you can afford that amount of money.
It is important to understand that cars which are cheapest to insure are also cars which are cheap to buy. This makes sense because if you buy a car for £3000 and it becomes a total write off after an accident, then the insurer will only have to pay out £3000 to get you a new one while a car costing £15,000 will be more expensive to insure. Things like easy availability of parts play an important role in the whole car insurance quoting process and that is why having a basic understanding of what goes on behind the quoting system is an intelligent way to reverse engineer the process and get you a cheap and decent premium.
Sure there are things like the amount of no claims discount that you own but this seems to be more geared towards people with more driving experience. So young drivers will definitely not benefit from it and are better off making the right choice in the first place. It isn’t a good feeling to have to do something against your own will but if you want a car that’s going to be cheap in terms of insurance purposes, then you’re going to have to swallow your pride and go for what’s going to benefit you financially.
You do not want to drive without insurance and risk getting banned. Believe me, you’ll get caught sooner than you think and regret it for a long time. So do your research well and stick with something that’s going to be economical and you’ll soon find out that it’s going to pay off afterwards. You need to be objective and buy the cheapest car to insure instead of feeding your ego and struggle with the finances of running a car.