It might come as little surprise that the most expensive car to insure is the ultra-luxury Rolls Royce Wraith. If you’re lucky enough to own one, the annual cost of insurance is a whopping £10,500.

The top 20 most expensive cars to insure list is dominated by supercars and high-end 4x4s. High-performance road rarities, like the Aston Martin Superleggera and Honda NSX, make the top five. But they’re not the only cars that you’ll need deep pockets for when it comes to car insurance. We outline which cars will mean pumped-up premiums and how to get costs down.

A matter of risk

Insurance is all about risk. In the UK, new cars are given an insurance rating from 1 to 50. The lower the rating, the lower your insurance is likely to be. At the other end of the scale, if you buy a car in insurance group 50, you’ll be forking out more.

Generally, the faster the car is, the bigger the risk of an accident occurring. And that means higher premiums for cars with bigger engines and turbo-chargers. Some cars are also more appealing to thieves, and that makes them more expensive to insure.

And there are other things that can make a car more expensive to insure.

Modified cars

Any modifications to a vehicle can push up the price of your premium. This can be cosmetic changes, like a body kit or a wrap, or performance enhancements. Disabled adaptations can also impact on the cost of insurance. That’s because any changes to the factory standard could make the vehicle more costly to repair. Modifications can also make a vehicle a target for thieves.

Imported cars

Insurers crunch data to come up with your premium. If your car is imported, there’s generally less data to analyse. With less information available, insurers generally charge higher premiums.

Future classic cars

Whilst insuring a classic car can often cost less than you may expect, it can be a little trickier with future classics. These are cars that are not old enough to be considered a classic vehicle but are likely to become classics in the future. This means their true value is often higher than the list price. For your peace of mind, you’ll need to find an agreed value policy.

Electric vehicles

Electric vehicles can be more expensive to insure than their diesel or petrol counterparts. This is partly because they cost more to purchase, but is also because they can be more expensive to repair.

The cheapest cars to insure

If finding cheap car insurance is important to you, you might want to consider switching to one of the cheapest cars to insure. According to AutoExpress the cheapest cars to insure include the Nissan Micra 1.0, the Volkswagen Polo 1.0 S and the Skoda Fabia 1.0 S. These are all group one cars, so you can be sure they’ll get you on the road at the lowest price possible.

How to get a better price on car insurance

Saving money on insurance doesn’t stop at the car you own. Whether you’ve got a low group car or one of the most expensive cars to insure, there are some simple steps you can take to get the cheapest car insurance.

1. Don’t just accept your renewal quote. Insurance companies rely on us being too busy to change our insurance every year. That means it’s likely that your renewal quote will be higher than you could get if you switch. It’s worth taking time to shop around. You can do this by ringing around insurance companies or filling in forms online. Another option is to use an online price comparison website. Just be wary that some comparison websites might charge more for the same policy than you’d find elsewhere. They also don’t represent every insurance company out there, so you may need to use a couple. And make sure you always read the small print before you buy. Some comparison websites may show you results that don’t match your original search details. They may be low on price, but it can cost a lot more in the long run if you don’t have the cover you expect. Your third option is to use an independent insurance broker like Easy2Insure to do the legwork for you. When you use a broker you only need to give your details once. They then call around a wide choice of insurance companies to find you the best price. They’ll clearly explain what cover you get and help you to find a policy that matches your needs and budget.

2. Specify your mileage. If you cover a lower than average mileage each year, make sure you tell your insurance broker. Fewer miles travelled means a lower risk of having an accident, and that translates to lower premiums.

1. Consider increasing your excess. The excess is the amount you’ll automatically pay if you make a claim. Normally there will be a set compulsory excess that you have to pay. Insurance companies set these in an effort to reduce the number of costly small claims. You can also opt for additional excess. Generally, the higher your excess, the lower your premium will be. Just make sure you keep it affordable for you.
2. Always pay your insurance annually if you can. If you opt to pay monthly for car insurance, you’ll end up paying much more than if you pay in one go. Some insurance companies will charge up to 20% extra for monthly payment plans. So if your basic premium is £500 a year, you’ll end up paying around £600 in monthly instalments.

It’s Easy2Insure your car

We’re here to help you to find the best price on car insurance you can rely on. As part of the trusted Park Insurance group, we use our buying power to negotiate hard on your behalf. That means we can find high-quality insurance to suit your budget from some of the UK’s best insurance companies. Getting a quote is completely free and you’re under no obligation to buy. Call our team on 0800 917 9522 or get a quote today.

When you work as a freelance courier, you can enjoy lots of benefits like the freedom to choose your hours. But when you’re your own boss, you also have to think about essentials such as what insurance you need. Without it, you could find yourself in financial hot-water if something unexpected happens. So, to save you time and money, we’ve put together this guide on freelance courier insurance and where to buy it at the best price.

What types of insurance do self-employed couriers need?

Some insurance is a legal necessity, and some are just a good idea to have.

1) Motor Insurance

If you have a car, van or motorbike, you’ll need a minimum of third-party insurance by law. This covers the cost of any damage to other vehicles and injuries to people if there is an accident. It won’t pay out for the cost of repair or replacement of your vehicle if it is damaged or stolen. Alternatively, you can take out comprehensive motor insurance, which covers your vehicle too.

Don’t assume that third-party only cover will be the cheapest option. And if you rely on your vehicle for your work, consider if you’d be able to repair or replace your car if something unexpected happens. If you can’t this could seriously affect your ability to work as a freelance courier.

Remember,  not every motor policy comes with a guaranteed replacement car whilst yours is being repaired or replaced. If you need that, make sure it’s included. And if you rely on a certain size car or van, take out a policy with a guaranteed like-for-like car hire option.

Remember: You’ll need a specialist commercial motor policy – an ordinary domestic insurance policy won’t cover you.

2) Breakdown cover for couriers

As a courier, you rely on your wheels. So what happens if you breakdown? Make sure you can get back on the road quickly with specialist breakdown cover for couriers.

3) Public liability insurance

You come into contact with the public every day. And when you do that, there is always a risk that they could be injured or property could be damaged. Accidents can and do happen, no matter how careful you are.

For example, imagine you’re stood waiting for a signature when someone trips on your bag that you’ve momentarily put on the floor. They break their wrist and claim for compensation for both the injury and their loss of wages.

With the increasing number of compensation claims being brought against bike riders, public liability insurance can be especially useful if you use a bicycle to courier items.

Imagine that you accidentally cycle into a pedestrian crossing the road, for instance. They fall and hurt their ankle. They can sue you for the injury caused as well as for loss of wages. Add on the legal fees to defend your case, and it can be a very expensive accident.

Public liability insurance covers your legal costs if a member of the public makes a compensation claim against you. Even better, it puts a legal team at your disposal, so you won’t need to worry about a thing. Instead, you can concentrate on your work.

4) Employer’s liability insurance

Although most freelance couriers are self-employed one-man-bands, if you employ others you’ll need employer’s liability insurance. This is a legal requirement even if your employee only works part-time. It works like public liability insurance, paying legal fees if anything unexpected happens to your employees connected to your business.

5) Goods in transit insurance

Whether your couriering food or packages, you’re responsible for these items whilst they are in your possession. If they are damaged in an accident or are stolen, you may be liable to pay up. Goods in transit insurance covers this liability.

Remember: Most policies will set a maximum single item limit (the maximum amount you can claim for one item). They also normally specify the maximum combined claim limit (the total amount you can claim for multiple items.) You won’t normally know what you’re transporting, so when you calculate how much cover you need make sure you don’t underestimate it.

6) Personal injury insurance

Have you thought about what will happen if you have an accident and can’t work as a freelance courier? Worries over who will pay the bills, especially if you have dependents, can be removed when you take out personal injury insurance. Also known as personal accident insurance, this pays compensation if you suffer a serious accident or die.

Remember: Personal injury insurance for you is not normally included with your vehicle insurance. Whilst motor insurance pays personal injury claims for anyone you injure when you’re driving the vehicle, it won’t pay out if you are injured. That’s why you should consider taking it out as part of your courier insurance bundle.

Finding cheap freelance courier insurance

Remember, you get what you pay for. Cheap courier insurance might not give you the level of protection you need. But you can still find great value for money insurance with these top tips:

Try telematics

Fitting a telematics box to your car or van can mean lower insurance premiums, but only if you’re a safe driver. It records things like speed, braking, and erratic driving. Whilst safe driving is rewarded with lower insurance premiums, if you’re considered to be driving unsafely, your insurance costs can rise.

Use a dash-cam

Installing a dash-cam can save you money on your courier insurance. It clearly records who is at fault in the event of an accident and that can save the insurance company money. You’ll need to pay for the installation of the dash-cam, but this cost can potentially be offset against tax.

Drive carefully

The best way to keep your insurance premiums low is to stay claim-free.

Don’t declare spent penalty points

You must always tell your insurer if you have any endorsements on your licence but beware of over-declaring penalty points. If you’ve had endorsements on your licence for driving offences, check online to see if they’re still valid. If you tell your insurance broker that you have penalty points but they are spent, you’ll be unnecessarily paying over the odds for your insurance.

Beat the thieves

Vans are an attractive target for thieves. Reduce insurance costs by fitting an immobiliser or professional alarm. If you can, park your van in a street with good lighting and where there are plenty of passers-by. Keeping your vehicle parked in a locked garage overnight can also help to lower premiums.

Shop around for the best deal

As with all insurance, it pays to shop around for your courier insurance. But that doesn’t mean hours spent phoning around or trawling the internet. Use an independent broker, like Easy2Insure, which can quickly access specialist policies. Even better, you can trust your broker to find you the right level of cover, so there are no nasty surprises lurking in the small print.

As with all insurance, it pays to shop around for your courier insurance. But that doesn’t mean hours spent phoning around or trawling the internet. Use an independent broker, like Easy2Insure, which can quickly access specialist policies. Even better, you can trust your broker to find you the right level of cover, so there are no nasty surprises lurking in the small print.

Cheaper courier insurance you can rely on

It’s Easy2 find great value freelance courier insurance. Call our helpful team on 0800 917 9522 or get a free quote.