We carried out UK car insurance price comparisons for 100 different people on a popular comparison site.
We standardised by stating that every person was born in the UK, had no medical issues, claims or convictions in the past 5 years and had a full manual driving licence. Other than that they had a wide variety of other criteria such as postcodes, ages, jobs etc.
We took the three cheapest quotes for each person and put them into a table (you can see it by clicking the 'view the results table' button below), together with the cost of the cheapest ones.
Using the above criteria, the company that produced the cheapest quotes, most consistently, was Liverpool Victoria (with LV= and LV=Extra combined) with 18% of number ones, 20% of number twos and 10% of number threes.
Second was More❯Than (with MORE TH❯N and MORE TH❯N Black Box combined) with 12% of number ones, 3% of number twos and 7% of number threes.
Third was Amiral (with Admiral and Admiral Little Box combined, with 11% of number ones, 11% of number 2s and 5% of number 3s.
Fourth was Smartmiles, with 10% of number ones, 5% of number twos and 2% of number threes.
Fifth was Privilege, with 4% of number ones, 10% of number twos and 13% of number threes.
If we just looked the first 50 people with the cheapest quotes, the figures changed dramatically. Liverpool Victoria took 17 first places (34%), 16 second places (32%) and 7 third places (14%). However: for the bottom (more expensive) 50 they were only number one for 2% of them!
Conversely; Admiral/Admiral Little Box came top; with not a single number one place in the first 50, in the second 50 they scored 22% of number ones, 14% of number 2s and 10% of number 3s. Second was More❯Than (with MORE TH❯N and MORE TH❯N Black Box combined) with 18% of number ones, 2% of number twos and 8% of number threes.
This may suggest that LV was more interested in competing for the business of the safer, more experienced drivers than for the whole market. They may not, therefore, be able to offer such good value to young motorists, those with high powered cars, expensively-rated postcodes or occupations, and people with a poor claims/convictions history. Plus, even for less expensive premiums, two thirds of our motorist sample would have got lower prices elsewhere.
Admiral and More❯Than may have been better bets for those expecting higher-than-average quotes; but not so good for safer and more experienced drivers.
The best way to find out is to compare prices.
Nearly all the insurers that were offering quotes threw in one or more of the optional extras: windscreen cover, legal representation, courtesy car, or breakdown cover. They all, also, included a compulsory excess on top of the voluntary ones and these could vary considerably.
The cheapest prices were not, therefore, necessarily the best value and those looking for for a bargain should bear this in mind. They include the extras because they are profitable; if they are not really required there is nothing wrong with ringing the customer services department of the company you are interested in dealing with, and asking if they could be removed and the premium decreased accordingly.
Do make sure they are not sneaked back at the next renewal date though.
So: there is still no single 'lowest cost' insurer, which means: The best way to save money is still to ...
We have conducted hundreds of tests to find the cheapest insurance.
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