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Saving on car insurance and motoring costs

Saving on car insurance and motoring costs
Date of Publication: Tuesday, 24 January 2012 12:01

As car insurance stokes up a political storm, motorists have all the more reason to shop around carefully for the best deal.

 

Car insurance has become the centre of a political wrangle recently. According to the AA, the cost of motor insurance has continued to rise in recent months, with young drivers footing the highest bills.

 

MPs on the Transport Committee have slammed insurers for selling on details about accidents to solicitors and claims firms. This practice, they suggest, has stoked up the quantity and value of claims, which is then fed back into higher insurance policies.

 

Insurers have also come under fire for charging the jobless up to 63% more for the same premium at a time when unemployment is at its highest in 16 years and the squeeze on living standards remains fiendish.

 

The Association of British Insurers defended this move by claiming that their evidence, gathered through ‘actuarial’ data (a correlation of statistical data to assess risk), proves that there is additional risk associated with unemployment.

 

"We understand that this can cause difficulties for people, but it is a quantified factor supported by evidence," the Assocation said.

 

It seems little surprise, then, that 35% of people hope to walk more and drive less, according to Mondial Assistance. Drivers with an iPhone could save money through a new app, Fuel School, which uses GPS to calculate fuel efficiency and offers advice on saving petrol. It has been described as a 'powerful money saving tool'.

 

Meanwhile, motorists are being warned of inconsistency between policies after it was discovered that expensive policies do not necessarily provide any more cover than cheaper deals.

 

Drivers are being advised to check their policies for exclusions, nothing that while some can often be added at a cost, the best value deal will not always be obvious until all needs are accounted for and extra costs are added to the quote.

 

It is all the more important, then, to shop around for the best car insurance deals, given all of these derivatives and insurers’ different visions of ‘comprehensive’ cover. Start your search at Which4U today.

 

Emma North

Tuesday, 24 January 2012 12:01
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