Motor insurance news
10/10/2007

Cheap car insurance company reveals cost increases

The cost of motoring increased 10% between 2005 and 2007, according to statistics from a cheap car insurance provider.

Sainsbury's Bank looked at how much it would cost to run an average family car, a Ford Focus, with an annual mileage of 10,000, taking into account costs such as petrol, MOT tests, servicing, and motor insurance.

It found that in 2007 the cost would be around £2,259; 10% more than the £2,053 of two years previous.

With costs going up in most areas, one outlay which actually went down in 2007 was the cost of petrol. According to the cheap car insurance company's statistics, fuel costs fell by 1.2%, something which may come as a surprise to many motorists. However, this saving is unlikely to last after the 2p duty increase on fuel that came in on the 1st October 2007.

Motorists appear to be paying more for their motor insurance, with a 5.25% rise in the last year alone. This is one increase which could be dramatically reduced, Sainsbury's Bank suggests, by drivers getting plenty of car insurance quotes when it comes to renewal time.

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