Motorists Pay Out Over £31,000 In Car Insurance Premiums

Motorists have seen the average cost of their car insurance increase in the last couple of years by quite a large amount. This is a concern and can be attributable to a few factors such as the increase in claims being paid out by insurers and the change in the way the Ogden Discount Rate is calculated.

The Association of British Insurers (ABI) has recently revealed that motorists in the UK end up forking out, on average, in excess of £31,000 during their lifetime in car insurance premiums. This is a concerning figure and no doubt policyholders will be keen to find anyway possible to lower the amount they are paying out in premiums.

Unfortunately, too many motorists do not bother to try to get a better deal on their motor insurance when they receive their annual renewal notice for their car insurance from their existing provider. It is so simple and quick to check if the cover you presently have can be arranged cheaper elsewhere.

One of the ways is through the likes of a specialist car insurance price comparison website of which there are several. Using such a website is very quick and there is no obligation to proceed with any provider. Access to such sites are usually available 24/7 meaning that you can obtain a car insurance quote at any time of the day or night. It is even possible, in many instances, to take out the cover and pay for the cover.

As we have previously mentioned in an earlier post, as it is being predicted that the average cost of motor insurance is expected to cost more than £900 per annum, it really could be worth your while from a financial perspective to shop around for your cover. Remember, if you don’t ask you don’t get so start shopping around to see if you can get cheaper cover.

This entry was posted in News and tagged , . Bookmark the permalink.