Car

Car insurance

Searching for the right car insurance can be complicated. So we’re here to make your life easier. Whatever your car’s shape or size, our team of experts are here to help you drive with confidence under the right cover.

Home

Home insurance

Finding the right insurance to protect your property and all its belongings is often a difficult process. That’s why we’re here to find you a policy tailored to your home, giving you extra assurance in your insurance. Whether you’re a homeowner, landlord, or building a property, we can help you with the right insurance to keep your house a home.

Van

Van insurance

On the lookout for the right van insurance? Our expert team will find the right insurance to have you covered. Whether you’re a sole trader or have a fleet of vans, we work with a range of insurers to provide you with the right cover to keep you and your van on the road.

Business

Business insurance

Searching for a business insurance deal? From home offices to large enterprises, we understand that every business is different. That’s why our expert team works hard to find the right policies and protection for your specific business needs.

Farm

Farm insurance

We understand the constant demands of farming, so we’re here to make one thing much easier. No matter the size, we work with you on a personal level to protect your livelihood and help find the most competitive cover that your farm needs.

Travel

Travel insurance

We’re here to help your holiday go right. Offering insurance for a range of holidays, from multi-trips, a one-off holiday to a winter sport get-away, we’ll cover the least exciting part of your travels.

Other insurance

Searching for the right car insurance can be complicated. So we’re here to make your life easier. Whatever your car’s shape or size, our team of experts are here to help you drive with confidence under the right cover.

New Car

New or used car insurance – which is cheaper?

Insurance is a key factor when choosing a new or used car.

The common perception is that used car insurance is cheaper because a used car is older and therefore worth less.

But, in reality, there are a number of factors that influence the cost of car insurance.

 

The value of the car is key for both new and used car insurance

Used car insurance can be cheaper if the new car in question has a higher value. But this isn’t always the case.

If, for example, you’re trying to insure a high-end used car like a Porsche 911, the value of the car is likely to be greater than a standard new car like a Renault Clio or a Peugeot 208. In this case, the value of the car rather than its age means that used car insurance is likely to be more expensive.

Alternatively, if you are trying to insure a classic car, you’d need an agreed value policy rather than a standard car insurance policy. The cost of this will depend on the value of the car.

As the value of the car increases, so too does the liability an insurer has to take on.

 

New cars will have modern safety and security features

New cars are likely to have extensive modern safety and security features.

These include traction control, anti-lock breaks, a rear view camera, tyre pressure monitoring, adaptive cruise control, alarms, and immobilisers.

Many of these features come as standard in a new car, while others can be added as optional extras. Older used cars are unlikely to have the same level of safety and security, which can impact on the premium.

 

However, new cars can be more expensive to repair

The addition and complexity of modern technology means new cars can cost more to repair.

Firstly, the addition of more technological features increases the value of the car. As mentioned before, insurers therefore have to take on greater liability.

Technology can also make new cars more expensive to repair. For example, if an anti-lock braking sensor malfunctions, it can be expensive to repair, especially if the dealer sources the part directly from the manufacturer.

This can drive up the cost of premium and make used car insurance more appealing.

 

GAP Insurance can increase the cost of a premium

When buying a car on finance, the dealer may offer GAP insurance to cover the driver if the car is written off and the insurance pay-out doesn’t cover the cost of the finance settlement, because the customer is liable.

GAP insurance is optional and can be added to both new and used car insurance premiums and, again, it’s the value of the car that is likely to affect its cost.

 

Lots of other factors affect the cost of both new and used car insurance

There are a number of other factors that will affect the cost of a premium.

How the vehicle is used, the driver’s age, address and personal details, as well as their driving and claims history, will all be used by insurers to provide both new and used car insurance quotes.

There is no blanket answer as to which is cheaper. This is because car insurance needs to be tailored to each individual.

 

AbbeyAutoline searches the market to find cover that matches the needs of thousands of customers every day.

Get a new or used car insurance quote online or call us on 08000 66 55 44 to speak to a member of our team.

 

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