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Discover the Cheapest Car Insurance Options

Discover the Cheapest Car Insurance Options

A. Noguerol

Viernes, 24 de enero 2025, 11:15

In 2024, the average cost of car insurance policies reached 902 euros, marking a 15% year-on-year increase and an average rise of 117 euros compared to 2023.

Comprehensive insurance without excess has seen the most significant increase, with an additional average premium of around 400 euros, growing annually by 17%. Meanwhile, extended third-party policies have risen by 15.8%, and basic third-party policies have increased by 11.8%.

Spanish law mandates that all motor vehicles on public roads must be insured with a liability policy. This insurance covers damages you may cause to third parties with your vehicle in the event of an accident.

These figures are derived from the "Car Insurance Price Index" compiled by Kelisto.es, based on approximately 23,000 monthly user quotes on the savings website's comparison tool. The analysis shows the evolution of premium prices across different policy types (third-party, extended third-party, and comprehensive), without evaluating coverage and services. This car insurance price index is entirely independent and analyzes information from over 20 insurance companies in the market.

According to their calculations, the cheapest insurance for an average driver with a third-party policy can range from 188 to 203 euros. The table shows the cheapest options identified by the portal.

Prices of the cheapest insurance options Kelisto

Following these widespread increases, the portal suggests that the average insurance price may begin a downward trend in 2025, due to moderation in the CPI and consequently, lower costs of repair materials.

"It is expected that 'good' car insurance customers will see their premiums frozen or even reduced: drivers with very low claims, who rarely file claims, with extensive experience, etc. However, users of more expensive modalities or risk profiles could continue to experience price hikes. Neither the increase was equitable, nor will the decrease be," predicts Javier Martínez, spokesperson for Kelisto.es Insurance.

While considering how much car insurance costs is very important, when it comes to getting the best price and saving on this bill, it's not just about the price, but also other fundamental factors, such as analyzing what coverage each policy includes. This way, consumers can ensure they are paying the minimum possible for the coverage and benefits they actually need.

How to Save on Insurance

To save when purchasing car insurance, it is recommended to follow these guidelines:

Analyze the prices of insurance companies. Whether you want to switch companies or are looking for a policy for your new car, a comparison tool is perfect for finding not only the cheapest car insurance but also the most comprehensive at the lowest possible price. You can save up to 40% (132 euros per year), the difference between the most expensive and the cheapest car insurance in our ranking of the best car insurance, with similar coverage.

Analyze what your car insurance covers. Depending on your vehicle's characteristics, you may not need the most comprehensive car insurance on the market. For example, if your car is usually parked in a garage, theft coverage may not be as necessary. On the other hand, if your car is very old, it may not be advisable to take out a comprehensive policy that covers the vehicle's own damages. Consider your vehicle's particularities and how you use it to only purchase the coverage you will use.

Maintain a good claims history. Not having filed accident claims or accumulating traffic fines can help you get cheaper car insurance. The cheapest car insurers also tend to reward good drivers, so try not to commit infractions that could make you a high-risk driver.

Purchase multiple insurances from the same company. This can also help you save on your car insurance. If you want to insure another vehicle, take out home insurance, or get a health policy, you can do so while purchasing your car insurance.

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