Car insurance companies are pricing Brits right off the road due to exorbitant premium pricing, with industry experts predicting there will be around a million less cars on the road by 2016 as a result unless things change drastically.
One major car sharing firm predicted that nearly 4 out of every 10 people in the UK who currently own a car will soon decide that they have had enough with massive and constant car insurance rate hikes. Other expenses, such as filling up the tank with ridiculously pricey petrol, are contributing to the problem as well, experts say, and more than a million drivers are predicted to just throw in the towel and get rid of their cars, using the money to go towards things more rewarding – like digging a hole in their garden and burying their cash there instead.
In an independent survey conducted by another insurance industry expert, if the price of petrol were to go up by an additional 15p a litre, 85 per cent of Brits would have to change their lifestyles – sometimes drastically – in order to cope with the increased costs. Respondents said that they would cut their clothes budgets by 7 per cent, socialise 11 per cent more, or spend 10 per cent less at the local Tesco or Sainsbury’s.
Nearly three out of every four surveyed expressed the frustration that current fuel prices were completely ‘out of control.’ An average British family now spends in excess of £100 a month on fuel, which is now more than what a good number of Brits pay towards their utilities – experts say that there is a point where this has to stop and we’ve clearly passed it.