These rates show how hard it can be to come up with a generally accepted average for the cost of auto insurance because they are far higher than the ABI prices we previously stated.
The type of work a policyholder does affects the premiums they pay for their coverage. Workers in the hospitality, social work, trading, and sales industries frequently pay more for insurance than other employees—usually about £474, according to car leasing company Vanarama.
For those who have the position of “branch manager,” who receive the lowest compensation, this is in contrast to about £410.
Those who work in law enforcement, architecture, and product management typically make a little bit more money. Drivers who work jobs that don’t require them to use their personal cars much and who can park them in a safe place usually get paid less.
The cost of auto insurance varies depending on where you live. Based on the previously listed variables, insurers will evaluate a driver’s neighborhood’s traffic, population density, frequency of reported car thefts and accidents, and kind of drivers requesting coverage.
According to the most recent data gathered by quotezone.co.uk, Forbes Advisor’s partner for auto insurance, drivers in London pay the highest premiums—£781 on average—per year. Devon and Cornwall, two of the UK’s most rural regions, charge drivers an average of £423 annually.