High petrol prices mean we’re driving less – see if you can save money on car insurance

The soaring cost of running a car is leading Brits to use their vehicles less, but doing fewer miles means you can save money on your motor insurance as a result

There are several ways that using your car less can save you money

With petrol prices eye-wateringly high at the moment, Brits are using their cars less – but not many people realise they could save money on their car insurance as a result.

The average litre of petrol costs 161.7p a litre, compared to 125.4p a year ago, according to government figures earlier this week. Diesel is now 176.2p a litre, and it was 129.3p 12 months ago.

As a result, we are driving less in order to save money.

James Blackham, chief executive at insurance broker By Miles, said: “With the cost of living crisis in full flow, many drivers may be leaving their cars parked up a lot more to avoid the eye-watering prices at the pumps.

“One thing that was crystal clear from the latest MOT data is that as a nation we’re driving much less than before.

“The average UK driver is now covering the equivalent of London to Aberdeen less than they were in pre-pandemic times, and we expect this decade-long trend to continue.”

In fact, two-thirds (64%) of the UK’s motorists are now driving less than 7,000 miles a year.

Blackham said that drivers using their cars less may be able to save money on car insurance in the following ways:

1) Ask for an insurance refund

You may be in line for cash back from your car insurer if you used your car less during the Covid lockdowns of 2020 and 2021.

Blackham said: “If you’re one of the 82% of people who didn’t receive a refund from your insurer during lockdown, then call your insurer up and ask them why.”

2) Switch to…

Read complete post here:
Source link