The cost of car insurance has increased by 46% year on year, according to new Premium Drivers research from Compare the Market, and young drivers are seeing the biggest jump. The typical premium stands at £892 in February 2024, after rising by £279 over the previous 12 months. The substantial increase in the cost of car insurance may in part be due to a rise in the cost of claims for … [Read more...]
Insurance premiums escalating to average £950
Motorists are facing a substantial 52% increase in the cost of car insurance, according to new Premium Drivers research from Compare the Market. The typical premium stands at £950 at the end of December 2023 after rising by £326 over the previous 12 months. The significant rise in the cost of car insurance may in part be due to a rise in the cost of claims for insurers. High inflation rates … [Read more...]
Think & save on car insurance
The cost of car insurance went up by 19% from 2022 to 2023. As a consequence, many Brits are likely to be concerned about the cost of renewing their car insurance this year. To help navigate car insurance renewals, Confused.com car insurance experts have provided their top tips on renewing your car insurance: Set yourself a reminder - Unless you tell your car insurance provider … [Read more...]
Tradelines 19 April
The all-electric British designed MG Cyberster sports car will come to UK in 2024, but may be sold outside the usual dealer network. MG has previously said it believes having a showroom network has been behind its success in recent years, but the first sports model in over a decade may be see another sales avenue created. A swathe of car dealer suppliers are at loggerheads with one of the … [Read more...]
Spiralling costs denting garages, dealerships and filling stations
A Motor Ombudsman poll of independent garages and franchise dealer workshops has revealed that rising operational costs, taxes and energy bills are set to be the biggest operational challenge for 90% of businesses in 2023. This is a marked increase on the 64% of respondents who stated in the same study that paying more for utilities and higher costs had reduced overall business profitability … [Read more...]
Fleets must deliver greater value than before
Electrification and the impact of the recession look set to be the key fleet issues of 2023, the Association of Fleet Professionals is predicting. Chair Paul Hollick said that that businesses would be looking to fleet managers to deliver more value than ever, especially when it came to cost control and carbon savings. “Next year is going to be a tough one, no question, and there will be … [Read more...]
Borrowing to keep driving
As the cost of fuel increases, it is becoming tough for many drivers to stay on the road, said Alex Hasty, director at comparethemarket.com. “Our research shows high petrol and diesel prices are now forcing drivers to make fewer journeys, and some are needing to cut back on seeing friends and family. “More than eight in ten drivers are worried about the increasing fuel prices and one in three … [Read more...]
Millions of motorists consider axing breakdown cover
One-in-five Welsh drivers is considering cancelling their breakdown cover, says IAMRoadSmart. As the cost-of-living crisis deepens, millions of motorists are now considering cancelling their breakdown insurance in a bid to cut back on everyday outgoings. The Welsh findings mirror the national picture after research commissioned by the UK’s leading road safety charity, IAM RoadSmart, revealed 21 … [Read more...]
Premiums rising again and young drivers’ risk
Motor premiums are rising again after months of decline in the wake of coronavirus travel limits. Dan Hutson, head of motor insurance, comparethemarket.com, said, “Car insurance premiums are on the rise and have increased by £16 to £714 in September, from August. “This follows four consecutive months of declining costs leading to premiums reaching the lowest level in four years during August. … [Read more...]