Insurance news

Driving costs UK motorists billions

30 April, 2007

According to leading car company, Zurich, UK car owners spend an annual average of £1,776.62 each on day-to-day costs like vehicle tax, furl, parking and maintenance.

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More than 90 per cent say car-costs have increased over the last five years – for a third of these motorists, by over £400 every year. And three quarters say that owning a car forces them to budget carefully.

In a bid to reduce their escalating motoring bill, a fifth of car owners admit to delaying or avoiding paying motoring costs including insurance, road tax and parking fines.

Of these, seven in 10 admit to putting off paying for repairs and maintenance, with a third putting off paying vehicle tax and 30 per cent on paying for an MOT, even though they are legal requirements.

While 22 per cent say they have delayed paying for insurance, 3 per cent even admit to driving without insurance. Some drivers are so fed up with this change in outlay, that they are ready to take further action in a bid to reduce their motoring costs.

Nearly a third of motorists say they would walk instead of drive, a quarter would use public transport more frequently and 23 per cent would downsize their car if motoring costs increase further.

But few of us, it seems, will make the ultimate sacrifice and ditch our wheels completely, with 73 per cent saying they could never live without their car, and just seven per cent would consider selling their main car if costs continue to rise.

With costs rising now, one future cost that is riling UK motorists is the proposed road charging scheme. Three quarters of motorists surveyed by Zurich say they are against the Government’s proposals to introduce road charging – with 78 per cent believing that it will be a means of generating more tax.

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Mark Searles, chief marketing officer at Zurich Insurance said: “The cost of motoring has risen dramatically over the past few years, putting drivers under increasing financial pressure. The most worrying findings from our research are those that show some drivers are risking their own and others’ safety in a bid to save money.

“We need to change those attitudes and remember that it is a legal requirement to have both a valid MOT and insurance. Everyone pays an extra £30 per year on their premium as a result of accidents that are caused by those with no insurance. With other costs, it’s vital that people budget carefully, especially when it comes to vehicle maintenance. We all have a duty to make sure our roads are kept as safe as possible.”