Safer Driving
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Safer Driving
Theres lots of competition in the car insurance market at present and as a result there are some very healthy premiums being quoted. Dont just re-new your cover when it comes due - take some time to investigate the market and find the best deal.
Who would have believed that the costs of car insurance could remain at such a reasonable level as they have done for the last year or so? Who would believe how long this fortunate situation can possibly last?
If it wasnt for the fact that a quarter of the money paid out by drivers for annual insurance goes to cover other people, insurance could be even cheaper. These "other people" are drivers who drive whilst uninsured or make fraudulent claims, not to mention the insurance premium tax which the Government claims.
Just how long this situation can last is unsure. Money which is paid out in claims has exceeded the money drawn in from the sales of policies by almost 10% in the past year or so. When you also consider that over the past ten years, the money paid out in claims has show a steady rise from £1b to over £6b you realize just how unrealistic the position is. (best value loan)
If a driver is under 21, theres unfortunately ten times the chance of them having an accident and although premiums are very much higher for these drivers, they are still a drain on the general insurance market. For these drivers, one of the new pay-as-you-go plans may be worth thinking about. The ones specifically for them restrict driving hours by making late-night driving (proven to be the time when accidents are most likely to happen to this age group) very expensive - insurance-wise. They pay for their insurance on a mileage basis, linked to a black box which is a global positioning satellite (GPS). (mppi)
This scheme can work for more experienced drivers too and can help to demonstrate the benefit on your wallet of many years of claim-free driving. An agreed amount is charged, based on your driving habits and this can work out to be very reasonable if your driving is mainly carried out off-peak. For those drivers who are aged 24 and over, but under 65, driving on the motorway during off-peak hours will cost as little as 1p per mile. This will rise to at least 4p per mile for off-peak driving in towns.