Normally, the phrase ‘the only way is up’ is welcomed with open arms. A sign of good things to come. This week though, folks, it’s not that great. We would recommend you grab a warming cuppa and a biscuit or five.
Now, we don’t mean to fearmonger here, so let’s cut to the chase.
Car Insurance costs are rising in the UK
Yep, well let’s be honest. It was inevitable, really.
Over the period of Covid-19 lockdowns, and semi-lockdowns, insurance gladly took a hit and found itself at an all-time low. Well, this is like the saying “what must go up, must come down”. Except it’s the complete opposite.
Let us also stress this: it isn’t anything to be worried about, as the change isn’t too significant just yet.
The costs have only just started to rise again. We’re assuming this is due to many motorists returning and taking their vehicles back to the streets, commuting once more to their offices, and driving for leisure purposes.
In fact, from July through to September, car insurance costs (for fully comprehensive) increased by 2.5%. Are you back in the office yet?
So, what’s the damage?
As previously stated, the time has not come to fret just yet. Yes, it warrants a cup of tea and a few too many biscuits, but we do live in the UK. The mildest inconvenience justifies one of those. Stubbing your toe, or a slight rise in car insurance costs. Nothing that a cuppa cannot solve. We’re sure you will agree.
The good news is that, on average, car insurance prices are still reasonably low. Due to the substantial drop during the peak of Covid-19 lockdowns, a small soar in prices is not too bad at all. In fact, the average price of car insurance is still floating low by 10.4%.
As usual, it is the bigger city dwellers who are hit the hardest by any sort of increase. Although, to throw a spanner in the works and distract from cities like London and Birmingham, it is actually the East Midlands area that has one of the highest percentage increases. A whopping 4.5%!
The good news is, there is an easier way to ensure you’re saving on your car insurance costs. It’s time efficient, too! Simply fill in our form to see how we can help you save. It takes just 3 minutes!