The cheapest and most expensive cars to insure in 2024

The cost of insuring a car can vary by almost £1,000 depending on the make and model of the vehicle, new data from comparison site GoCompare shows.

The research found the most expensive type of car to insure will set drivers back £1,200 on average per year, whereas the cheapest car to insure costs a more manageable £241.

With the cost of car insurance premiums soaring, paying close attention to the make and model before you pick your vehicle could help you save.

Here, Which? reveals the 10 most and least expensive cars to insure, along with other factors that influence premiums.

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• Find out more: best car insurance companies in the UK

The cheapest cars to insure

Here are the top 10 cheapest car makes and models to insure on average, per year according to research from GoCompare.

The Peugeot 206 took the top spot, with insurance averaging £241 a year.

It may be surprising to some that the Porsche Boxster came in second-cheapest at £243, while last year's winner, the Mazda MX-5, dropped to third place with an average premium of £249.

The cheapest cars to insure for under-25s

Your car choice isn't the only factor that insurers use to calculate your insurance premium.

The age of the driver plays a large role — typically, younger drivers face higher premiums as insurers deem them riskier to insure.

So here are the 10 cheapest cars to insure for under-25s according to GoCompare:

• Find out more: car insurance: add-ons, fees and charges explained

The most expensive cars to insure

Now for the top 10 priciest models to insure on average: 

As you might expect, the list is filled with large, fast, and powerful vehicles.

The most expensive car to insure is the Porsche Taycan, at £1,200 per year on average. That's around five times more than the Porsche Boxster, highlighting that the model can make a significant difference.  

The most expensive cars to insure for under-25s

Here's how the list differs for those under 25:

• Find out more: how to insure a classic car

Are newer cars cheaper to insure than older cars?

No, newer cars aren’t always cheaper to insure than older cars.

The Peugeot 206 (launched in 1998), and considered an old car, tops GoCompare’s list of the cheapest cars to insure. However, insurers generally use a range of factors other than the car's age to calculate your premium. 

Typically, newer cars come with better safety and security features, which could mean lower insurance costs in some cases.

On the other hand, older cars might have lower insurance premiums because they generally have lower market values, making them less expensive to replace or repair in case of damage.

Insurance costs can vary significantly based on your individual circumstances and preferences. The best way to find out the insurance cost for a specific car is to compare quotes on websites such as Confused.com, Compare the Market or GoCompare.

Enter the car's make and model, your personal information, and the level of coverage you need. You can also go back and switch out the car model to see how it affects your quote.

Not all insurers are on price comparison websites, though. Which? Recommended Providers Direct Line and NFU Mutual are both examples of this. So, it's a good idea to contact these insurers directly to check for better deals. 

• Find out more: how to find cheap car insurance.

What else affects your premium?

Your car choice and age aren't the only factors that insurers use to calculate your insurance premium.

Insurers consider your driving habits, such as how often you use your car and the mileage you cover. For instance, using your vehicle for daily commutes can increase your premium compared to occasional leisure drives.

Where you live can also affect your quote. Areas with heavy traffic and higher rates of vehicle theft or accidents generally have higher insurance premiums than rural areas. 

Your driving record, including any previous accidents or traffic violations, can also impact your premium. Insurers weigh these factors collectively to calculate your premium accurately, ensuring it reflects the level of risk associated with insuring you and your vehicle.

• Find out more:  best cars for 2024

How else can I save on my car insurance?

Saving on your insurance doesn't have to be as drastic as changing your car. Here are some steps you can take to bring your quotes down:

1. Pay per year: opt for an annual payment rather than monthly instalments to avoid additional charges. Insurers often charge interest for monthly payments.
2. Choose the right job title: your occupation can influence your premium, so select the most accurate job title when getting quotes. Small differences in job titles can sometimes result in savings.
3. Be proactive: don't automatically renew your policy without checking for better deals. Haggling with your current insurer or switching to a new one can often lead to savings.
4. Consider multi-car policies: if you have more than one car in your household, multi-car insurance is worth considering, as you might qualify for a discount by grouping them together on one policy. 
5. Adjust your excess: consider increasing your excess — the amount you would have to pay in the event of a claim — to lower your premium. Just make sure it's at a level you can afford to pay if needed.

Find out more: how to find cheap car insurance

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