Sainsbury’s Finance estimates that the annual cost of running a car has increased by around 11% when compared to 2007, with insurance the most significant element in the rise.
According to the research, the typical cost of insuring a car rose 13% in the 12 months to October 2009, having increased 23% since 2007, taking the average premium to £551.74.
Meanwhile, road tax is demanding an extra 8% from the average motorist and 22% when compared to two years ago.
However, fuel prices are slightly lower than in October 2008 with the average car owner shelling out around £1,266 per year to fill the tank.
Servicing costs are also estimated to have fallen marginally over the past year due to the deflationary effects of the recession.
Sainsbury’s therefore calculates that the average annual cost of motoring, excluding any interest repayments on loans taken out to purchase a vehicle, is now around £2,338, or 11% more than in 2007.
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Monday, December 28, 2009
Tuesday, December 15, 2009
Car insurance customers advised to stay sober this Christmas
Insurers are turning their backs on drink-drivers with many simply refusing to cover those convicted of driving under the influence.
As we enter the festive period when incidents of drink driving can increase, latest analysis of insurance quotations has shown that those convicted of the offence could be blacklisted by insurers, or else could face swingeing hikes in their insurance premiums.However, other insurers will not return a quote at all to drivers if they admit to receiving a DR10 penalty for drink driving.
And some will not insure drivers if they have been handed a driving ban in the last five years.
Steve Sweeney, head of motor insurance at moneysupermarket.com said: 'On top of a massive hike in insurance premium costs, any convicted motorist is likely to find themselves with the difficult task of trying to find a provider who is prepared to insure someone with a drink driving conviction.'
According to a recent survey carried out by the Home Office, a staggering one in eight drivers - or 12% - admitted to having driven after drinking what they believed was an 'over the limit' amount of alcohol in the previous year.
Steve Sweeney added: 'A conviction could lead to a £1,000 fine, a 12-month driving ban on their licence, and even a possible prison sentence.
'It is simply not worth taking the risk – the results of doing so can be costly and very damaging.'
Source
As we enter the festive period when incidents of drink driving can increase, latest analysis of insurance quotations has shown that those convicted of the offence could be blacklisted by insurers, or else could face swingeing hikes in their insurance premiums.However, other insurers will not return a quote at all to drivers if they admit to receiving a DR10 penalty for drink driving.
And some will not insure drivers if they have been handed a driving ban in the last five years.
Steve Sweeney, head of motor insurance at moneysupermarket.com said: 'On top of a massive hike in insurance premium costs, any convicted motorist is likely to find themselves with the difficult task of trying to find a provider who is prepared to insure someone with a drink driving conviction.'
According to a recent survey carried out by the Home Office, a staggering one in eight drivers - or 12% - admitted to having driven after drinking what they believed was an 'over the limit' amount of alcohol in the previous year.
Steve Sweeney added: 'A conviction could lead to a £1,000 fine, a 12-month driving ban on their licence, and even a possible prison sentence.
'It is simply not worth taking the risk – the results of doing so can be costly and very damaging.'
Source
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