Drivers 'must' pay £456 to stay road-legal
Motorists are being warned that they could be forced off the roads unless they cough up a compulsory £450, sparking fears among drivers. A recent report from GoCompare.com reveals that the average cost of car insurance has seen a further increase of two per cent since the start of the year, rising from £447 to £456.
This means that drivers must shell out £456 to stay within the law and maintain their car insurance, thereby remaining road-legal. Tom Banks, Go.
Compare's car insurance spokesperson, expressed his concern: "This quarter's price increase may not be as dramatic as the rise we saw at the end of last year, but it will still be a concern for many motorists."
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"Understanding the factors that can influence the cost of your car insurance premium and seeing if there are any minor adjustments you can make, could save you a few quid here and there - but it is crucial that you remain honest and accurate when obtaining a quote," reports Birmingham Live.
Tom further added: "Some of these things might seem obvious, such as your annual mileage and your age, but insurers also take into account where you live and the make and model of your car. Our report indicates that those who drive 6,000 miles a year saw average premiums of £447, £54 less than those who drive 10,000 miles a year (£501). Insurers view those who spend more time on the road as more likely to have an accident. That's why it's important to be as precise as possible when getting a car insurance quote, from declarations such as where the car is parked overnight to how much you estimate you'll drive over a year."
Tom highlighted: "We recently revealed that buying your car insurance 26 days before your renewal is due is one way to save, but our research shows that 98% of people miss this window of opportunity and could end up paying 55% more as a result. Paying for your premium annually instead of monthly is another way you could lower the cost of your premium - when you pay monthly insurers view it as a loan and therefore charge interest which drives the cost up."
He added, "And we know we bang on about it a lot, but not auto-renewing and comparing insurance policies every year is a sure-fire way to make sure that you aren't paying over the odds on your car insurance every year. So log on and explore the market - you could make some major savings."