This site uses cookies. By continuing to browse the site, you are agreeing to our cookie policy.

Car Insurance Explained

Find out more about Car Insurance

Car Insurance - where does my money go?

The first in a series of videos to help explain how car insurance pricing works.

Following great customer feedback from our "Home Insurance - where does my money go?", we have created a video explaining how the cost of your car insurance is made up.

Half of motorists in the UK believe that car insurance is too complex to understand and this video is just the start of our journey to make insurance simpler. We'd love to know what you think on Twitter or Facebook.

Why do I need car insurance?

One in eight drivers make a claim on their car insurance each year.* We'd like to explain why everyone needs car insurance, and how it can help you. We'd love to know what you think on Twitter or Facebook.

* Figures are correct as of March 2016 and are based on Co-op Ecoinsurance which is our most popular motor product.

Why does my price change at renewal?

Car insurance prices can change at renewal and the reasons will be different for everyone, as shown in this video.

Below are some of the main reasons why prices might change:

  • changes you’ve made to your policy
  • more experience on the roads
  • having become more used to your car
  • any claims made
  • age; how you drive changes as you get older
  • insurers’ improved predictions of future claims
  • insurers reviewing prices to be competitive
  • price of car parts
  • Insurance Premium Tax.

We'd love to know what you think on Twitter or Facebook.