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A List of Some of the Most Affordable Cars to Insure in 2019

There’s no denying that insurance costs in the UK have gone through the roof this past couple of weeks due to amendments made to the tax structure, and the method by which victims receive compensation.

As a matter of fact, when individuals rack up massive insurance bills, they diminish the chances of getting a great option in terms of insurance premiums.

That being said, the situation doesn’t have to always be that grim. In today’s segment, you’ll get a chance to sample some of the latest premiums around on car sales present in the United Kingdom. This will give you a wider option to select from.

Car insurance premiums have been on a steady rise in the United Kingdom

A Myriad of Insurance Options

In almost every country around the globe, insurance is usually categorized depending on the type of car that has been purchased. In most cases, cars are usually ranged from 1 to 50, with cars on the lower tier being equated to lower insurance costs.

Such groups are usually determined using the Group Rating Pane, which consists of members that make up the Association of British Insurers; not to mention the Lloyd’s Market Association.

This associate panel is handled by the Thatcham Research, which analyzes the car insurance market and determines the insurance rates to be bought for any new car models.

When it comes to working out the calculation for the aforementioned rates, Thatcham goes about it by first studying a given car model, and determining the level of susceptibility to damage that the car has, and not to mention its repair costs.

Specifically factors such as duration of repair, parts to be replaced, labor costs involved, and the addition of safety and security features.

Other factors that are considered include the age of the driver and the occupation that the driver has. In this particular segment, the car insurance for the following models was determined using the parameters of a 40-year-old man that resides in Cardiff, and works at a finance company as a sales director.

Additionally, the man has a 10 years’ no claim bonus, zero driving convictions, has not had an accident in 5 years, and has an average number of miles driven every year at 10,000. So without further ado, here are the list of new car models and their projected insurance rates as per the parameters mentioned.

  • Volkswagen Polo- Estimated price of insurance: £312
  • Toyota Yaris- Estimated price of insurance:£259
  • Fiat 500- Estimated price of insurance: £372
  • Kia Picanto- Estimated price of insurance: £391
  • Hyundai i10- Estimated price of insurance: £396
  • Vauxhall Viva- Estimated price of insurance: £404
  • Ford Ka+- Estimated price of insurance: £409
  • Renault Clio- Estimated price of insurance: £409
  • Smart Forfour- Estimated price of insurance: £416
  • Fiat Tipo- Estimated price of insurance: £418
  • Ford Fiesta– Estimated price of insurance: £422
  • Volkswagen Up- Estimated price of insurance: £422
  • Dacia Sandero- Estimated price of insurance: £422
  • Hyundai i20- Estimated price of insurance: £422
  • Vauxahll Astra- Estimated price of insurance: £423
  • Kia Rio – Estimated price of insurance: £424
  • Toyota Aygo- Estimated price of insurance: £424
  • Nissan Micra- Estimated price of insurance: £426
  • Suzuki Celerio- Estimated price of insurance: £430
  • Renault Twingo- Estimated price of insurance: £441

So why do car insurance premiums rise? Perhaps this is a question you’ve been asking yourself after having to dig deeper into your pockets for your new premium. Here are some of the reasons why:

Most insurance premiums are based on parameter such as driver’s age, his or her occupation, and their driver’s record

An Increase in Population Means There Are More Cars on the Road

The statistics say it all. Urban migration is on an increase. With cities getting new residents every day, it’s only reasonable that these new individuals purchase cars as an easier means of transport. This, in turn, has resulted in a large volume of cars on the road, increasing the chances of accidents, collisions, and damages on the road.

It is only natural that insurance companies increase their insurance premiums to deal with the high number of insurance claims.

New Models That Are More Affordable Are Crowding the Market

With demand for new models soaring through the roof, the cost of purchasing a vehicle has reduced dramatically compared to a decade ago. These new models have to be insured, and hence, there is a high demand for insurance across the spectrum.

As is the case in any market, when there is high demand for a certain commodity or service, the price, in turn, rises. This is what has resulted in a high insurance premiums.

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