The MG3 is a small hatchback sports car. It’s a stylish choice, plus it has a decent amount of standard equipment for a vehicle that is so cheap to purchase and insure. In this guide, you’ll find out how much it could cost to insure based on your age and location.
What insurance group does the MG3 fall under?
All vehicles are assigned a specific insurance group based on how expensive they should be to insure. These groups range from 1 (cheapest to insure) to 50 (most expensive). MG3 models can be found in insurance groups 4 to 8, meaning the car insurance will be on the cheap side.
However, the costs may vary slightly depending on your choice of MG3 model and what group it falls under. As an example, a 30-year-old driver in an average postcode could pay around £564 for cover on an MG3 1.5 VTi-TECH 3Time 5d that is in insurance group 8 or around £562 for an MG3 Exclusive VTI-TECH 5d that is in insurance group 8.
These rates are based on the average cost of cover for cars in the insurance groups shown, for drivers of different ages with a Newcastle (NE1) postcode, which our research suggests represents an average for insurance rates in the UK. Updated: June 2024 (source: Confused).
MG3 insurance cost by location
The table above shows the average cost of MG3 insurance based on insurance groups and driver age. However, there are many other factors that affect the cost of your car insurance premiums. One of the most significant of these factors is your home address.
To show the power of the postcode, here are some average quotes for a 30-year-old living in three different locations. The quotes are for an MG3 1.5 VTi-TECH 3Form 5d.
Expensive: £848 (London SE1)
Average: £564 (Newcastle NE1)
Cheap: £550.06 (Galashiels TD1)
These rates are based on the average cost of cover for cars in the locations shown. Our research suggests SE1 is one of the most expensive locations, NE1 represents an average cost location and TD1 represents one of the cheapest locations. Updated: June 2024 (source: Confused).
Along with insurance group, there are a number of key factors that have the biggest impact on your insurance premium costs:
Engine type and capacity. In general, cars with bigger engines cost more money to insure. However, in this example, all MG3 models have a 1.5-litre engine.
Driver location. Insurers will use your home address to determine the risk of your car being stolen or involved in an accident, based on previous claims data. For example, a 30-year-old in central London may pay £848 for insurance for an MG3 3Style+ 1.5 DOHC VTI-TECH 5d, while the same 30-year-old in Newcastle may only pay £564. This price difference occurs because motorists in London are more likely to claim on their car insurance policy.
Driver age. The youngest drivers are the most likely to claim on their car insurance, and that’s why they pay far more for their car insurance. As an example, the average 20-year-old driver in London may pay £3,289 for the MG3 Explore VTI-TECH 5d, while the average 40-year-old Londoner will only pay £805. That’s a £682 difference based purely on the age of the driver.
Other factors that influence the cost of your insurance include:
Your car’s safety rating score
The model of your car
The age of your car
Your car’s security and any extra anti-theft precautions
Your annual mileage
Your driving history and activity
Your no-claims discount
Your marital status
Your credit history and job
How can I save on my MG3 premiums?
When searching for car insurance, it’s worth taking the time to find the best deal for a price that’s within your budget. Thankfully, there are plenty of actions you can take to lower the cost of your premium.
Limit your annual mileage (where possible). If you can occasionally walk or use public transport, rather than using your car, it can help to save on your premiums.
Pay annually rather than monthly. Whilst it might be intimidating to part with a large sum of money in one go, paying annually can prevent you from having to pay interest on monthly instalments.
Install extra safety precautions. By adding extra safety measures, you lower your chances of making a claim, and that’s why insurers are quite likely to offer you a discount when you do.
Don’t blindly accept your renewal quote. Make sure you shop around for the best deal using price comparison websites. There are likely to be cheaper options out there from competitor companies.
Frequently asked questions
Depending on the model version, you can potentially expect a MG3 to reach a top speed of 108 miles per hour.
This vehicle received a three-star rating out of five in its Euro NCAP crash tests. That includes a 69% rating for protecting adult occupants and a 71% rating for protecting child occupants. This is a rare case in modern times: Most vehicles are awarded four- or five-star ratings.The UK standard car tax rate sits at £150 per year. However, you might pay more or less depending on your car’s emissions.
You can buy an MG3 at dealerships, from online sellers or from current owners across the UK.
All engines in the MG3 are 1.5 litres.
The MG3 is one of the more affordable vehicles offered by this famous brand, but it still delivers an exciting ride.
You can compare the costs of insuring an MG3 using any price comparison website.
No, MG3 models can be found in insurance groups ranging from 4 to 8, so the insurance will be on the relatively cheap side.
*Based on data provided by Consumer Intelligence Ltd, www.consumerintelligence.com (Mar ’24). 51% of car insurance customers could save £539.54
The offers compared on this page are chosen from a range of products we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations), aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When making a big financial decision, it's wise to consider getting independent financial advice, and always consider your own financial circumstances when comparing products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Danny is a publisher at Finder specialising in insurance and investing. He previously worked at the global insurer Aon and has appeared in national media giving advice on insurance. Danny holds a BA in International Business from the University of Plymouth and has undying loyalty to his average-poor football team, Portsmouth FC. See full bio
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