The price of motor car insurance in the UK will continue to increase, according to figures released by one recent survey.
As many motorists in the UK are finding it harder and harder to keep up with the financial realities behind keeping their vehicle running, the dwindling nature of discount car insurance in the UK is making things more expensive than ever. Car insurance rates have been rocketing as of late, leading to a year-on-year increase that has made it highly difficult for some motorists to afford to keep their cars on the road, especially combined with runaway petrol prices.
The survey found that car insurance companies are charging on average nearly 31 per cent more than they were for the same level of cover. The price of car insurance in April alone rose by 4 per cent in comparison to the previous month’s prices, indicating that these prices are continuing to increase.
Many motorists have had to abandon their plans to use their cars as their primary mode of transport due to these increased costs. These Brits have begun to look into alternative means of transport in order to save cash.
One insurance monitoring organisation official stated that in analysing the situation they found that inflation in car insurance cover has persisted to be a serious financial issue to the vast majority of motorists in the UK. Within the group’s analysis, the previous month’s inflation saw female drivers the hardest hit, which has led it to believe that there may be some early impact from the recent ruling by the European Court of Justice banning the use of gender as a determining factor when it comes to premium prices.