Most of us will openly admit that our cars are very important to our daily lives. They are useful in getting to work, as well as errand running and even as part of the work itself.
With rising prices in relation to both petrol and car insurance, many of us are now taking the decision to leave our vehicles at home. As many of us rework our finances and attempt to cut back on luxuries in order to make ends meet, the decision to run vehicles has become of paramount importance to households.
A study carried out by a leading money advice website has shown that around a quarter of motorists now use their car less due to rising costs of running and maintaining their cars. Over 3 quarters of those surveyed cited rising petrol prices as the main reason for being put off driving more, with prices for unleaded now averaging £1.07 per litre across the country (although it varies by region)
But with the price of the average car insurance quote also rising as a result of the credit crunch, many of us are now opting for using public transport or bicycles in order to get around. Whilst this may seem good news for cycle manufacturers and green campaigners, manufacturers and car insurance companies could face tough times if the trend continues.
With the ongoing credit crunch having an impact on all aspects of the financial market, cheap car insurance runs the risk of becoming a thing of the past, with the average fully-comp policy coming in at around £630.
Its’ not just motorists who are feeling the strain of the credit crunch, the motor industry has seen dropping sales. And as more of us are turning to bicycles in order to help us get from A to B, the future doesn’t look promising for many manufacturers.
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Frequently Asked Questions
Underinsured
By: lunchlady | 12-07-2008
what is the statute of limitations on motor vehicle accidents in nj for underinsured drivers? if the person at fault does not have enough coverage to cover the cost of replacing a totaled vehicle, can the insurace company of the other driver sue them personally for the difference? if they can, is there a time frame they have to do it by?
Uninsured in car accident
By: bran | 08-07-2008
my husband was involved in a car accident july05.very minimal damage to other vehicle,none to ours. i just found out our policy cancelled on june30.so we have no insurance to cover this accident. the family of 6 that was in the van were not hurt and 3 of the passengers left before the law arrived because they were going to a wedding. now it is july 08 and 2 of the passsengers are complaining of back problems. i have pictures of the damage to their vehicle and no tickets were given. where do we stand on this?i dont have a problem at all with paying for the damages to the van. but i do have a problem with the injuries. my husband bumped them in the rear pulling from a stop sign. barely any speed at all. any advice would be appreciated. thanks alot!
Car storage insurance
By: mmille6515 | 09-05-2008
do you know how i can insure my car in arizona for storage only
Car insurance policy
By: Jonofwg | 05-05-2008
I bought a used car and added it to my policy, and then the car broke down 2 days later, how do I take it off my policy, will I be charged? How does it work?
Wa car liability insurance
By: judykay | 23-03-2008
Does car liability insurance in WA state cover the passenger for medical insurance in case of a one car accident
My parked car was hit 22nd Oct 2008 and my car has ...
By: RoydenFoster | 22-01-2008
My parked car was hit 22nd Oct 2008 and my car has been off the road for over three months and the insurers are unable to still provide a date when they will get the part to complete the repairs to my car. They also appear not to want to consider any alternative solutions. Is not three months an unreasonable time to wait for your car to be repaired? Where do I stand in relation to the insurers having to pay me out? Fully comprehensive
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