Motorists who park their car on their driveway could be saving up to £178 on their car insurance bills, according to new research. Analysis from Go.Compare car insurance found road users who declare they stop on a drive instead of a locked garage would pay less.
According to the figures, the average cost of parking in a locked garage was £710 per annum, compared to just £656 for those who stopped elsewhere. Keeping a car on the drive was found to be better for premiums than in a garage, with road users paying £627 on average. This would be £85 less than those who spark up inside a locked garage despite this appearing the safer option on paper.
The average third-party fire and theft policy for those stopping in a garage costs motorists around £1,053 per year.
Meanwhile, those who park elsewhere around the home pay only £875 on average across the entire year, working out at a massive £178 reduction.
Tom Banks, car insurance expert at Go Compare, warned premiums for garage parkers are higher due to several reasons.
However, he stressed one of the big reasons was that road users could damage their cars by reversing in and out of the building.
Tom explained: “There are various reasons why keeping your car in a garage may result in a more expensive premium. Some insurers may feel garages can pose their own security risks.
“If the garage is connected to your property, your car could get taken in the event of a home break-in, while if the garage is unconnected, you may be unable to hear the thief entering your car.
“Insurers may also feel the car is more likely to be damaged if you keep it in a garage. For instance, there could be a greater chance of bumps and scrapes when trying to fit today’s larger cars into small garages.
“Items being stored in the garage, like a toolbox, could also fall onto the vehicle and damage it.”
However, Tom has stressed that road users should still consider parking their cars in a garage if they don’t have access to a driveway.
Stopping on the side of a road could be considered more dangerous with cars potentially becoming a target of crime.
He said: “If the alternative to your garage is somewhere more exposed, like on the road outside your home, then your policy could go up rather than down, and you’d be making your vehicle more vulnerable in the process.
“Ultimately, security is the most important factor, so if your garage is the safest place for your car, then keep it there.”
