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Car insurance premiums are £335 more expensive for owners of one family vehicle compared to many others in a major blow for cash-strapped motorists. The study highlights how the type of vehicle you drive can have a major impact on overall costs with many drivers being caught out with higher premiums.
MoneySuperMarket revealed the Volkswagen Golf receives the most insurance enquiries of any car and is one of the most popular vehicles in the UK.
However, insurance costs for the model are over £300 more than comparable family vehicles in a shocking revelation.
The average policy for the Volkswagen Golf is £617 although the average across all hatchback and estate cars is just £472.
This is also up considerably on the cheapest family model drivers can secure, the Skoda Yeti.
According to MoneySuperMarket, the Yeti can be insured for no more than just £282.22 in a £335 saving.
The Fiat Qubo was also found to be one of the cheapest on the market with average costs calculated at £285.91.
Citroen’s C3 and Honda’s HR-V both saw average costs of below £290 while the Hyundai Kona, Dacia Logan and Skoda Roomster were just below the £300 mark.
Suzuki’s SX4, Hyundai’s IX20 and the Suzuki Celerio completed the cheapest policy list with these models all below £306.
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But, MoneySuperMarket can reveal that none of these vehicles with the cheapest policies are included in the top ten most popular family vehicles.
This suggests insurance costs are not always considered by buyers while selecting a car in a major oversight.
Tesla’s Model X has the highest insurance costs of all family vehicles with premiums around £1,406.
That is over £1,100 more expensive than the cheap Skodas Yeti, showing how vital car selection could be in terms of overall pricing.
Dave Merrick, head of car insurance at MoneySuperMarket said “shopping around” before making a purchase would help drivers secure the best deals.
He said: “If you’re looking to buy a new car, it is always worth pricing up the cost of insurance before committing to a purchase.
“Our data shows the most popular cars in each region aren’t necessarily the ones that have the best insurance premiums. In fact, it is often the opposite – the most popular cars tend to have significantly higher insurance costs.
“There are many factors to consider when choosing a family car and, in order to keep costs down and keep on top of your finances, shopping around will help you find the best deal.”
The AA says all new cars are assigned to different car insurance groups which determine the overall costs motorists could be forced to pay.
Cars in the highest groups are usually high performance models and are likely to incur the highest costs if any claim is made.
These are likely to incur higher costs for the customer as they are considered to be at higher risk for companies in the event of an accident.
Thatcham’s Research said several factors are taken into account when placing a new car into a group.
These include how much it would cost to repair any damage, new car values, car parts prices and overall vehicle safety
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