So lease a car this month and take advantage of cheaper insurance too!
According to new data, motorists who insure their car during the month of August pay 10% less on average than drivers who renew or take out vehicle insurance in January.
Apparently, August is the cheapest month of the year if you’re looking to insure a car, so now’s the time to lease a brand new car from Clear Car Leasing – remembering you need a fully comprehensive insurance policy with a lease vehicle!
In August last year, the average price for car insurance was quoted as £496.16 on MoneySuperMarket, yet in January the same year the price was much higher at £549.25 – more than £50 difference between the cheapest month and the most expensive.
Looking at more data from MoneySuperMarket, during the first half of 2019, the average quote on a fully comp insurance policy stayed below £500 for two consecutive quarters – the first time since summer 2015. In the first quarter, the average quote was £466 but increased to £472 in the second quarter.
After analysing 1.7 million insurance quotes, it was discovered that drivers in Kirkwall benefitted from the biggest fall during the second quarter of 2019, with a 5% drop from £334.65 to £317.62.
Furthermore, motorists in Durham, Galashiels and Norwich saw insurance quotes fall by 3%, whilst drivers in Darlington, Lincoln and Paisley benefitted from a 2% drop.
The most expensive place to insure a car is still in East London, where a fully comprehensive insurance policy was quoted on average of costing £935.20.
In contrast however, the cheapest quotes were on the Isle of Lewis in the Outer Hebrides, at just £303.47. The average quote taken as a whole in London was £668, whereas in Scotland it was only £364.
There’s also been a decrease in price quotes for the two youngest age groups during the past 12 months, with 17-19 year olds benefitting from a drop of 12% to £993.61, whilst 20-24 year old insurance quotes dropped 5% to £939.72.
Also, the average quote for female drivers fell 4% to £423.36, whilst male quotes dropped 5% to £516.15.
Emma Garland, data scientist at MoneySuperMarket, said: “It’s good to see premiums staying below £500 for the second quarter running.”
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