It looks like those falling car insurance rates are over

CAR INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 27 AUG 2014:

Remember how I was saying that car insurance rates were plummeting last week? Well this week it’s different – the downward slide has stopped in some UK areas.

In fact some regions have been positively hammered as of late. The worst area in the UK when it comes to costly car insurance is, unsurprisingly London – and that hasn’t changed – but the second worst place has. Car insurance companies have jacked up the cost of cover for customers in Redbridge and Epping Forest to the point where it’s almost unaffordable!

It all happened over the last three months, according to police figures. The last quarter has seen the number of car thefts in the region rocket upwards, with the end result of more than 40 reported incidents. Woodford Green was found to have been hit particularly hard, with police understanding that there’s a an organised ring of criminals seeking out cars that have high-value parts for the black market.

All these thefts have wreaked havoc with the cost of motor car insurance in the entire area. In fact, now anyone living in the IG postcode is paying more for insurance than anyone else in the UK besides Londoners. Insurance costs went up by 4.5 per cent over those three months, and along with a spate of accidents in the region as well the new average cost of cover there – according to the AA anyway – is a whopping £922.

Thieves are getting savvy, too, according to police: oftentimes a vehicle will be stashed somewhere overnight and watched closely by a criminal to ensure there car isn’t fitted with a police tracker. Break-ins have also gone up, with an astounding 52 instances of vehicles being burglarised. The most often-targeted vehicles include motorcycles, Ford Galaxys, and Mercedes Sprinter vans, so if you live in the area and have a similar vehicle you’d better keep an eye out!

Still, I feel terrible for anyone who lives in the area, especially if they’re struggling to keep their cars on the road to begin with. It’s not easy to own a vehicle in the UK, and it’s not exactly helpful when your entire postcode has become a hotbed of vehicle thefts!

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