One survey recently discovered that more than 80 per cent of respondents will drive less as a result of the rising costs associated with car ownership – such as motor car insurance.
The survey was conducted by one online car insurance comparison site in order to discover the effects of cost increases on the motoring public. The research findings also indicated that 69.5 per cent of respondents reported that their car insurance rates had risen by a dramatic margin over the past five years.
The news regarding the scarcity of discount car insurance shows that motorists have been feeling the pinch in spite of Chancellor Osbourne’s attempt to mitigate oil price rises by cutting the price of petrol by 1p. The results also highlight the AA’s recent announcement stating that the average price of motor insurance had gone up by 40 per cent over the past 12 months.
The research findings indicated that only 4.2 per cent of respondents stated that their insurance premiums had actually fallen in the past five years, while only 7.1 per cent of motorists could say their rates had stayed the same. The remaining 88.7 per cent reported that their rates had either gone up slightly or by a much larger margin.
In regards to the cost rising cost of driving would affect motorists in the coming year, a massive 80.4 per cent of respondents indicated that they would be driving less as a result. Just under 20 per cent stated that their motoring habits would not be affected, while less than one per cent stated they would actually drive more next year instead of less.