Car Insurance News

Car Insurance – Costs Up or Down

Prudential car insurance has recently published a survey that shows Britain to be one of the most expensive countries to run a vehicle.

Motorist in Britain pay more for running their cars than our European cousins do, according to the research. It is less expensive to run a car in a lot of other European countries including:

• Spain
• France
• Italy
• Germany

Average car running costs in GB versus Europe are 15% higher and our vehicles depreciate by up to £2000 more.

It’s not just car insurance costs that need to be taken into account. If you pay in full, or by direct debit, you know one part of your fixed motoring costs. It is in all the other areas, associated with running a car, where we tend to fall down.

It is clear that we don’t take into account various other costs including:

• Parking fees
• Servicing / maintenance costs
• Tyre replacements/repairs
• Vehicle excise duty
• Car residual values

Philip Southgate of Prudential Car Insurance said, "You know how much your insurance is every month but that knocked wing mirror, tyre change or parking charge all add up,"

He added. "We Brits love our cars and every time we make a journey, we unknowingly add a little more to the monthly cost: fuel, parking, mileage and even penalties."

The Prudential works out that it costs us £0.40 pence per mile to run a car based on an average 12.5K miles per year.

You can save on your car insurance here – but don’t forget about finding the cheapest fuel and repairers. Let’s make ‘em work for our business!

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