Motoring costs keep going up, experts say

Motoring costs in the UK simply keep going up, motor car insurance experts say, leading many to contemplate how they’ll be able to afford to keep their cars on the road.

Petrol prices have been rising steadily and with no end in sight, according to some experts, and now a new report from the AA says that car insurance rates have risen in excess of 15 per cent over the past 12 months.  According to the AA’s research findings, the average cost of comprehensive cover has increased by £128.71 since last year, to a new sum of £971.40.

Cheap car insurance for young drivers has mostly dried up, especially young men, as this class of drivers is considered the most accident-prone, especially when compared to women of the same age.  However, the tables will be turned on female drivers this coming December due to a new law following a ruling by the European Court of Justice banning car insurance companies to use gender as a basis in their premium calculations, with the end result being that female motorists could experience a considerable increase to their motoring costs.

However, drivers nervous about their upcoming renewals can take steps to control costs, experts say.  First and foremost, motorists must be willing to shop around for the best deals instead of simply auto-renewing your cover, as simply rolling over your policy by assuming that the quote for the coming year is competitively priced is a wager you’re guaranteed to lose.

Insurers gamble on customer inertia all the time, insurance experts say, by raising premium rates every year in the expectation that most people can’t be bothered to look for a new deal.  However, those that do shop around can save hundreds on their insurance by finding an insurer more than happy to provide you good cover at less expense.

© 2018 All rights reserved. Reproduction in whole or in part without permission is prohibited. See our copyright notice.

What do you think?

Please note that email addresses are not visible on approved comments.