UK households with garages are at risk of £790 car insurance charges, it has been warned. New data reveals that drivers could face higher car insurance prices simply by parking their vehicle in a certain location.
Research Findings on Garage Parking
Research shows that drivers who park their vehicle in a garage overnight pay £24 more on average for their car insurance. According to Go Compare, these drivers can expect costs of £647, compared to £623 for those who park elsewhere overnight. Additionally, individuals who buy third-party-only cover face an extra £54, bringing their total to £790. Motorists who park somewhere other than a garage will pay £736 on average.
Expert Insights
Tom Banks, car insurance spokesperson at Go.Compare, explained: "Car insurance is often cheaper for those who park in more secure locations, so it might be a surprise to see that those who park in a garage actually end up with higher costs on average. One possible reason is related to cars increasing in size over recent years. This steady growth has made it much harder to fit cars in garages, which could be leading to an increase in claims for scrapes and bumps while parking in a garage, driving up premiums as a result."
Recommendations for Drivers
Banks added: "While parking in a garage could lead to more expensive premiums, we would still suggest that drivers prioritise their vehicle's security when choosing where to leave their car overnight. This will minimise the risk of theft and, in turn, the possibility of having to claim. Whereas leaving it in a less secure location could increase this risk. If you have to claim, your premiums will likely go up as a result, meaning you could cancel out any savings you made by parking elsewhere."
Ultimately, drivers should choose their parking spot based on where it is least likely to be damaged or stolen. If that means leaving it in the garage, even if it results in a slight rise in premiums, it could be the better option in the long run.
