Smaller , lower priced cars with smaller engines are usually cheaper to insure than bigger expensive cars with larger engines.
Luxury cars with powerful engines are seen as more difficult to control which would increase the risk of accidents and therefore the premium paid.
We obtained insurance quotes for a variety of cars from just one insurance provider – all for the same driver circumstances and age of car. ( A 25 year old student with a new licence and a 2011 registered car , Third Party Fire & Theft) (Summer 2017)
The lowest quotes we found for car insurance were on the following cars :
Opel Corsa 1.2 €1695
VW Fox 1.2 €1695
Fiat Panda 1.2 Active €1738
Citroen C1 1l €1751
Seat Ibiza 1.0 €1751
Some of the more expensive cars to insure were:
Peugeot 207 1.6 Sport €1939
Honda Jazz 1.3 €1961
Opel Astra 1.6 €1984
This was not a comprehensive survey – just a guide to show how different cars increase insurance premiums. In this sample – the dearest car 1.6l Astra cost about 17% more to insure than the 1.2 Corsa – a difference of almost €300 a year.
Other insurers may quote different prices.
In the UK all cars have a published “Insurance Group” that they belong to. These Insurance Groups range from Group 1 (the cheapest) to Group 50 – the most expensive. These groups can be a useful guide to the level of insurance premium you can expect to pay on a car. In Ireland we don’t have these insurance groups – but the UK system can be a fairly accurate indicator to use.
The age of a car also plays a large part in the cost of insurance – the insurers believe that the older a car is, the more accident-prone it becomes. On the other hand – a new car is more expensive to replace than an old car and will cost more to insure.
I have superb little car and if the truth be known my no claims bonus should by now say 30 years NCB! But because my car is 15 years old, no company will now insure it. This despite the fact it has anti-lock brakes, airbags etc and is in superb condition. Official data shows that the age of a car is 0.2% a factor in road traffic accidents. Irish insurers are full of bloody bullshit!