Daewoo Matiz insurance group
Find out the average cost of insurance for the Daewoo Matiz based on the specific model version and the driver's demographics.
The Daewoo Matiz is a small hatchback that was produced between 1998 and 2005, and it is incredibly cheap to buy and run. It’s also tiny, meaning it’s easy to park, but it can still nip around corners pretty well. In this guide, you’ll learn how much it could cost to insure based on the specific model version and factors related to the driver.
What insurance group does the Daewoo Matiz fall under?
When it comes to car insurance, all cars on the road are assigned a specific insurance group, ranging from 1 (cheapest to insure) to 50 (most expensive). Insurance companies use these groups to determine the cost of your premium. Daewoo Matiz models can be found in insurance groups ranging from 5 to 9, meaning the car insurance will be on the cheap side.
However, the costs may vary slightly depending on your choice of Daewoo Matiz and the insurance group it fits in. As an example, a 30-year-old driver in an average postcode could pay around £653 for cover on a Daewoo Matiz Xtra 5d 03 that is in insurance group 5 or around £711 for a Daewoo Matiz 1.0 Xtra Cool 5d that is in insurance group 9. Here, we can see the impact of premium pricing when one car is in a higher insurance group.
Daewoo Matiz insurance cost by location
The table above shows the average cost of Daewoo Matiz insurance based on insurance groups and driver age. However, there are a number of other factors that affect the cost of your car insurance premiums. Your location is one of the most significant factors affecting this.
To show the potential influence of your home address, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Daewoo Matiz 1.0 Xtra 5d.
- Expensive: £823 (London SE1)
- Average: £688 (Newcastle NE1)
- Cheap: £492 (Galashiels TD1)
Which factors affect my Daewoo Matiz insurance rate?
Along with insurance group, here are some other key factors that have a big impact on your insurance premium costs:
- Engine type and capacity. As a general rule, you can expect to pay more to insure a car with a bigger engine. However, as all Daewoo models have a 1.0-litre engine, there is no point of comparison in this scenario.
- Driver location. Your home address helps insurers determine the level of risk around your car being stolen or being involved in an accident. This is based on previous data and affects the cost of your car insurance. If you live in an area where motorists are more likely to make a claim, you will pay more. For example, a 30-year-old in central London may pay £823 for insurance for a Daewoo Matiz 1.0 SE+ 5d, while the same 30-year-old in Newcastle may only pay £688. That’s a £135 per year difference based purely on where the driver lives.
- Driver age. The youngest drivers pay more for car insurance because they are historically the most likely to make a claim. For example, the average 20-year-old driver in London may pay £1,358 for the Daewoo Matiz EZ+ 5d, while the average 40-year-old Londoner will only pay £711. That’s a £647 per year difference based purely on the age of the driver.
Other factors that influence the cost of your insurance include the following:
- Your marital status
- Your credit history and job
- 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
- Annual miles driven
- Your driving history and activity
- No claims discount
How can I save on my Daewoo Matiz premiums?
While car insurance is a necessary legal requirement, you don’t want it leaving you with an empty bank account. When searching for insurance, you’ll want to find the best deal for a price that’s within your budget. There are some tricks you can try in order to lower the cost of your premium, and we’ve listed them below.
- Limit your annual mileage (where possible). The less you drive, the less the chances of you making a claim. If you can take some journeys by foot or public transport, rather than using your car, it can help to save on your premiums.
- Pay annually rather than monthly. Paying annually can save you money since a lot of car insurance companies charge interest on monthly repayments.
- Install extra safety precautions. The safer your car is, the less of a risk it will be for companies to insure. By adding extra safety measures, you’re quite likely to lower your premium.
- Don’t blindly accept your renewal quote. When it’s time to renew, make sure you shop around for the best deal using price comparison websites. Don’t blindly settle for the renewal price given to you – there may be cheaper options out there!
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