Five simple ways to beat soaring car insurance premiums. The average annual car insurance bill is expected to hit a record high of £800 this month, according to comparison website compare the market.
For example, Topcashback is rewarding drivers taking out Co-op car insurance until Sunday 4 June with £50 cashback.
Switching car insurance three weeks before the renewal date yields the optimal saving, says comparethemarket.com.
Yet despite the rapidly rising cost of car insurance, drivers are turning their backs on the easiest way to make significant savings by sticking with the same provider each year.
Once you’ve identified a suitable insurance policy, find out if you could earn cashback by purchasing it through a website such as Topcashback.co.uk or Quidco.
As it stated in Yesterday, Comparethemarket.com warned that the average car insurance policy could hit an average of £800 a year next month.
The rising cost of car insurance has been blamed on the increase in IPT and changes to the way compensation is calculated.
“Some drivers may assume that admitting this will increase the cost of their car insurance, but in many cases the opposite is true.
Amanda Stretton, motoring editor at Confused.com, said: “One of the checklist items when insurers are trying to calculate a driver’s car insurance premium is whether or not they have access to another vehicle, such as their partner’s car or a work car.
In February, the lord chancellor, Liz Truss, announced the increase and at the time experts said it could add around £75 year to car insurance bills.
As it stated in “As part of the Insure My Tesla program, Tesla is working with leading insurers resulting in lower prices for Tesla insurance, not higher,” Tesla said in its statement.
The frequency and severity of claims are compared with overall average claims of passenger vehicles and the average claims of the vehicle’s class.
AAA said premiums for Tesla vehicles could go up 30 percent based on data from the Highway Loss Data Institute and other sources.
Model S owners are in for a rude awakening on their insurance bill soon.
“These leading insurers also appreciate the added safety benefit of Autopilot.”The article “Tesla owners should pay more for insurance, AAA says” originally appeared at Automotive News on 6/4/17.
collected by :Olivia Mathio