Drivers of all ages are paying record amounts in car insurance premiums. And the Association of British Insurers (ABI) has warned there is no end in sight for the high cost of cover.
The reason for these spiralling prices is a cocktail of external factors. Here we look at why the cost of cover is going up, show where premiums are spent, and point the way to how drivers can save money on their motor insurance.
What’s the average price of UK car insurance?
Buyers are urged to buy only EuroNCAP five-star cars such as the Volvo XC90
Drivers can’t do anything about lowering the cost of fuel, but they can drive more economically to save money. And so it is with car insurance: by law, we must all be insured, but there are proactive steps drivers can take to reduce the cost of cover significantly. That is good news, because insuring the car is estimated to make up around 15 per cent of an average driver’s yearly running costs, according to CAP Automotive, the vehicle valuation experts. Here are a dozen top tips to follow which can help reduce your insurance premium. Continue reading