Better road maintenance practices could lead to the rise of discount car insurance for motorists currently feeling the financial squeeze from a myriad of sources, according to a new report.
According to the Road Safety Foundation, drivers in search of cheaper car insurance could see their premiums decrease if road maintenance funds were spent in a more effective manner. The Foundation’s new cost/benefit analysis report entitled ‘Saving Lives, Saving Money’ indicated that it would only take slight modifications to achieve big results.
According to the investigation conducted by the Foundation, the costs incurred in bringing down the safety flaws on the main roads in the UK to suitable standards would result in large savings to motorists and car insurance companies alike.
The approximate costs to the UK economy for road accidents is approximately £30 billion a year, says the foundation. However, just taking £8 billion from the road budget as it exists between 2011 and 2020 could result in making the roads much safer for travel, thus reducing overall costs.
RAC Foundation director, Professor Stephen Glaister, stated that it is of course impossible to prevent every road accident in the country. However he did say that it is very possible to reduce the effects of these accidents by doing a considerable amount of improvements to the road environment in order to make it as forgiving as it it can be.
Many motor car insurance experts have stated that any way to reduce the costs of accident claims in general was likely to have a positive effect on the amount motorists have to pay on their insurance premiums. Insurance industry statistics reveal that the costs of motor accident claims amount to a significant percentage of each premium in the UK.