Your car insurance premiums are affected by factors including where you park your car – see where the best and worst spots are
The location you keep your car parked is one of several factors that influences the cost of your car insurance policy – fortunately it’s one that you have a degree of control over, depending on your residential and employment circumstances.
Insurers want to know where you keep your car both during the day and the night, as it will help them understand how safe your car is when you aren’t driving. Since insurance premiums are calculated by using your risk factor – how likely you are to make a claim – your car’s storage is an important element that insurers consider.
You’ll be able to declare different parking spots for day and night – for example, if you keep your car parked at work or in a car park during the day, and on your driveway or in a garage at night.
Insurers know you might not always be able to park in the same location, so when you tell your insurer where you keep your car just pick the answer that’s true most often.
But you should try to be consistent in where you park – and if you do change your regular parking spot you should tell your insurer. For example, if you install a driveway or convert a garage you were using.
As above, if you’re occasionally parking away from home – such as when you visit family or stay in a hotel – this won’t affect your cover.
It stands to reason that parking your car on the street is probably riskier than keeping it on a driveway or in a garage – especially if the street is away from your home, and even more so if you live in an area with higher crime rates.
However, garages don’t guarantee low premiums as they come with their own risks – such as bumping or scraping your car as you drive in or out.
When you compare car insurance quotes with MoneySuperMarket, you’ll be able to choose from the following options:
Based on average car insurance premiums*, the best place to park your car for both day and night is in a carport. As you might expect, this is because your car will be parked off the road, likely on your own property, and in a reasonably open space.
While you may think garages would be more secure as they’re usually a locked and enclosed space, this presents certain issues:
As such the average cost of annual fully comprehensive cover was just under £600 for people who keep their car in a carport when it’s not in use.
According to MoneySuperMarket data collected between January and March 2020, accurate as of June 2020 On the flip side, people who kept their cars parked on the street away from their home for both day and night paid the most in premiums, at over £1,300 a year. As mentioned above, parking your car on the street away from your home means it’s more likely to be damaged either by another driver or as a result of vandalism – and if it were being broken into or stolen you’d be less likely to hear it. The most common place for people to park their car is on their driveway, with 38% of people who look for car insurance stating they keep their car on their driveway both day and night. They were also on the lower side of the price scale, paying on average just over £770 a year in premiums. According to MoneySuperMarket data collected between January and March 2020, accurate as of June 2020 Generally speaking your location is also an important factor for insurers, as areas with high crime or accident rates present a higher claim risk. You might therefore find in some areas you’ll be required to keep your car in a garage or a driveway to get cover – or face either expensive premiums or refusals from insurers. You might not always have a list of options for parking your car, as it will depend on where you live and where you work. The following tips might not earn you discounts on car insurance as it’s unlikely providers will be this specific, but they can reduce the likelihood of you having to make a claim in the first place. Comparing car insurance quotes with MoneySuperMarket is a quick and easy way to find affordable cover for your vehicle. Just tell us a bit about yourself, your car and the cover you need, and we’ll search the market for a list of quotes tailored to your needs. You’ll be able to compare policies by the overall annual and monthly cost, the cover you’ll get and the excess you’ll need to pay to make a claim. Once you’ve found the deal you want, just click through to the provider to finalise your purchase. As with any insurance product, the cheapest option isn’t always the best suited to you. We recommend comparing policies based on the cover they offer as well as the cost – this way you can make sure you don’t end up over- or under-insured.
Where is the worst place to park my car?
Where do most people park their car?
Does my location matter when it comes to parking cars?
Advice for parking your car securely
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