If car insurance wasn't compulsory most of us wouldn't buy it. Then when we had an accident, particularly one that caused injury or even death to other people, we would probably lose everything we had in the subseqent financial claims.
Motor insurance isn't just there so that we can comply with the law. It exists to protect us as well as people who suffer loss if we are judged to be responsible for a bump or smash.
However that doesn't mean we want to pay too much for it. That is why sites where you can look for the cheapest car insurance at this cheap car insurance website or top quality insurers like NFU exist today.
A lot depends on your circumstances and, particularly, your driving record - or lack of it.
For most people a visit to a price comparison site - such as prudentplus.com - can result in cheaper premiums. Everybody's circumstances are different and insurers are free to specialise in, and offer lower quotes to, any type of motorist they wish. Some may offer comparatively bargain prices to sports car owners; some (like LV) prefer mature and safe drivers. This keeps their claims, and overheads, to a minimum. Others prefer to deal only with women, who statistically are safer drivers than men. This doesn't mean that they are allowed to refuse to insure males but which man wants a a policy that throws in handbag or baby seat cover? So shopping around using a comparison site, which can compare quotes from up to 100 insurers or even more, can make a lot of sense. However this isn't alway the best way of finding those bargains, for every driver.
Many insurers just don't want to take on accident prone motorists or those that regularly break motoring laws. They will either offer an unrealistically high premium or refuse to quote at all. A motorist in this position may be better off going to a specialist broker who can discuss the cover directly with niche insurers.
Most insurers have a fixed list of cars that they will insure. These often exclude old cars, particularly veteran or vintage ones, or imported models. This is not necessarily because such cars are involved in too many accidents but because the insurers don't have enough statistics to base their premiums on. Owners of rare cars may struggle to get insured at all but often there is an owner's club that has an arrangement with an insurer to cover that particular car. It's worth looking into.
Under 25s are in the worst position for finding 'cheap' car insurance - for most of them the lowest quotes they are likely to get are well into four figures. Most young people think that this is grossly unfair but the hard fact is that the accident statistics for this age group are awful.
Rather than relying on statistics in working out premiums it would be fairer to tailor every quote individually; after all some young drivers are reckless and not very good drivers but others are sensible, careful and well trained so in a perfect world they should pay less for their cover, since there is less risk of them causing an accident. 'Black Box' or 'Telematic' policies, in which driving is checked through a monitoring system are a step in this direction although they are still in their infancy so there are complaints from time to time that they don't work as well as they could. However they should get better.
Many insurers spend a fortune trying to convince us that they offer the cheapest possible premiums to everyone but it simply isn't true. Which one is the best and most economical one for you depends on many factors. Searching through price comparison sites is probably best for most motorists but for many a chat with a local broker or the secretary of a car club may produce the best deal instead.