Sharp rise observed in motoring costs
Personal insurance
8th April 2010
The annual price of running a car has jumped by 8.6 per cent within the past five month and is 20 per cent higher than it was in 2007, a new report suggests.
According to Sainsbury's Finance, from April 1st drivers are also facing higher costs as new vehicles registered after this date will incur a higher rate of tax.
Charges relating to owning a car are now estimated to total around £2,539 per year, up from a figure given by the bank of £2,338 five months previously.
Fuel and cover costs have risen in recent months, making it more important than ever to secure the best possible UK insurance policy to suit motorists' needs.
A specialist broker such as Giles can advise drivers on policies and tax requirements.
The firm notes the Sainsbury's data follow a recent report by Defaqto which indicated around eight per cent of insurance products to not provide car replacement cover, while 82 per cent apply a cost of repair threshold to cases.
For more information on how Giles can help you with your personal insurance needs, Click here.
