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How much is car insurance in London?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that coverage in London typically costs about $4 a month less than it does in the rest of Kentucky.
The average cost of insuring your vehicle in London is above the national rate. Coverage in London is about $47 more expensive than it is for the rest of the U.S.
Keep in mind that while these are the average car insurance rates for London, it isn't guaranteed that it's what you'll pay. There are a variety of factors that car insurance companies consider to determine how much to charge you to get your vehicle insured. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in figuring out your monthly premium.
But worry not, we've done the heavy lifting and broken down the average rate for London to help you understand what exactly you might be asked to pay. To find out if you're getting the cheapest rate, just enter your ZIP below and find out in minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The older you are, the more experience you're likely to have on the roads, right? When it comes to car insurance premiums, that experience can really pay off. According to the table above, you can see that 18-24-year-olds pay $69 more than someone who is at retirement age.
Every ten years or so you can expect to see a decline in your monthly premium. Drivers in London may see their rates creep back up once they hit retirement.
Average Car Insurance Rates by Gender
Although female drivers pay, on average, less than male drivers for auto insurance, London actually bucks this trend. While female drivers pay $130 a month for car insurance, males only pay about $124.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. A clean driving record will obviously get you a lower rate than one with accidents or infractions. Drivers in London with one accident will pay around $168 a month. In addition, drivers with one ticket can expect to pay around $141 a month on average.
Accidents, tickets, and other driving infractions can really cost you when it comes to your monthly rate. So, if you want the cheapest rates, drive carefully and try to maintain a clean driving record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$180|
|15 Years or Older||$118|
In London, the cheapest vehicles to insure are by and large SUVs, with drivers paying around $122 per month for auto insurance.
Truck and van drivers will see rates of about $130, while the rates for car owners average out to about $129 per month.
In addition to vehicle type, you can also expect to see slightly different rates depending on the age of your vehicle. Generally, the most expensive vehicles to insure are going to be newer ones. However, once your car is around 5 years old, you may start to see your monthly premium drop back down. In London, the most expensive vehicles to insure are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$127|
Generally, those who have settled down into marriage will pay slightly less for insurance coverage. This occurs because insurance companies commonly extend special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in London can be as much as $6 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$159|
One other element taken into consideration is your living accommodations. In London, homeowners can expect to pay around $15 a month less than those who rent. But those who live at home with their parents can expect to pay significantly more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in London, KY
Recent trends in car insurance for London drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending before shopping for coverage.
The rates for car insurance in London went up from 2017-2018, when they reached a high of $155. This changed in 2019, when rates began to decrease. They hit a low of $111 in 2020, and finished down in 2022, at $113 a month.
How does London compare to neighboring areas?
Why are car insurance rates in London different from other areas?
Car insurance companies take in a lot of factors when figuring out how much individual insurance policies will cost. Your insurance policy will depend largely on where you live and will be influenced by things such as:
- Total drivers
- Road Safety (frequency of car accidents)
- Amount of off-street parking
- Community laws
- Area crime rates
A decent level of familiarity with these factors can be helpful when you're ready to purchase of a new policy or thinking about making a move. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in London?
In the end, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies. Understanding what the average costs are for drivers prior to seeking out a quote can help you understand how closely the quote reflects local trends.
Good news! Compare.com does all of that work for you. Just type in your ZIP Code below, answer a few questions on you and your vehicle, and you'll be comparing the cheapest quotes from a number of the car insurance companies offering plans in London.
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London Insurance FAQs
What factors affect car insurance quotes in London?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your age and gender, but also factors like your address, driving record, credit score, and marital status.
Why is the cost of car insurance in London different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, crime rates, and local laws -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in London?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to London?
Whenever you relocate or experience another major life event, such as getting married or finding a new job, you should consider re-evaluating your current insurance policy. By using services like Compare.com to compare quotes from multiple companies at once, you can be sure to capture any new savings brought about by your new situation.
Do I need to wait for my policy to expire to switch to a different car insurance company?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to London or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.
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