A recent report compiled by a leading car insurance comparison website found that premium pricing declined by 0.8 per cent over the course of the past month. This is in addition to last year’s figures, where March 2012 saw a drop of 1.9 per cent in comparison to the price of motor car insurance 12 months ago.
While this does spell slight relief for drivers already smarting from rising motoring costs, the relatively good news is overshadowed by industry officials that remarked the overall price of motor insurance in the UK was still quite high. Over the past two years, insurance premiums have increased by 33 per cent on average, industry insiders pointed out, and many drivers have found it a struggle to keep their cars on the road with the increased premium pricing in conjunction with pain at the petrol pump.
In fact, independent research has discovered that far too many motorists in the UK are finding it so difficult to keep up on payments for their cars that they have decided to delay on undertaking regular maintenance or repairs in order to save some cash. This has led to many more cars being present on the road when they have no right to be, experts say, which could lose to an increase in road accidents caused by faulty vehicles.
However, if insurance prices continue to drop, this could spell some relief for harried motorists, experts added, even as the price of a litre of fuel continues to spiral upward.