One Million to Be Driven to Ditching Their Cars By 2016
Europe is in desperate need of some help. Greece is teetering on the edge of disaster; Spain, Italy and Portugal aren’t far behind; and the UK has just entered its own double-dip recession.
But this doesn’t mean that it’s not a perfect time for the EU to make things harder for female drivers with an EU gender directive aimed squarely at closing the gap between the genders’ insurance rates.
And I know what you’re thinking: this surely goes against the way that car insurance is currently calculated. And you’d be right. It seems giving lower rates to those who are less of a risk on the roads will soon be a thing of the past.
This could lead to a lot of women being unable to afford the cost of being on the roads with insurance. As it is illegal to own a car without insurance, it could force many people off the road completely.
Research by Be Wiser Insurance already supports this claim, suggesting that more than one million drivers may be forced to ditch their cars in the next four years due to the rising costs of running their vehicles.
The firm has suggested we could see up to 38% of current UK car owners ditching their vehicles and looking into alternative – and cheaper – forms of transport for their day-to-day travelling.
It doesn’t surprise me that people would be willing to alter their driving habits, given that the UK has entered a double-dip recession and the cost of living is bound to increase again.
With this rise in non-car use in sight, it makes sense for the first thing to be put under the metaphorical guillotine to be the ridiculously high insurance rates and maintenance costs which come with the ownership and running of a car. These cause a serious drain on the disposable income of any household.
It would seem that less money in British pockets will affect everyone. It could mean disaster for many small businesses which rely on using vans to transport goods to customers. And with these companies at risk, what could this mean for the future of the UK’s economy during these difficult times?
This post was written by Dan of Which4U – Compare, choose, apply & save on 100s of financial products; from insurance policies to mortgages and credit cards – if you liked this post, you can find many more like it at blog.which4u.co.uk.
But this doesn’t mean that it’s not a perfect time for the EU to make things harder for female drivers with an EU gender directive aimed squarely at closing the gap between the genders’ insurance rates.
And I know what you’re thinking: this surely goes against the way that car insurance is currently calculated. And you’d be right. It seems giving lower rates to those who are less of a risk on the roads will soon be a thing of the past.
This could lead to a lot of women being unable to afford the cost of being on the roads with insurance. As it is illegal to own a car without insurance, it could force many people off the road completely.
Research by Be Wiser Insurance already supports this claim, suggesting that more than one million drivers may be forced to ditch their cars in the next four years due to the rising costs of running their vehicles.
The firm has suggested we could see up to 38% of current UK car owners ditching their vehicles and looking into alternative – and cheaper – forms of transport for their day-to-day travelling.
It doesn’t surprise me that people would be willing to alter their driving habits, given that the UK has entered a double-dip recession and the cost of living is bound to increase again.
With this rise in non-car use in sight, it makes sense for the first thing to be put under the metaphorical guillotine to be the ridiculously high insurance rates and maintenance costs which come with the ownership and running of a car. These cause a serious drain on the disposable income of any household.
It would seem that less money in British pockets will affect everyone. It could mean disaster for many small businesses which rely on using vans to transport goods to customers. And with these companies at risk, what could this mean for the future of the UK’s economy during these difficult times?
This post was written by Dan of Which4U – Compare, choose, apply & save on 100s of financial products; from insurance policies to mortgages and credit cards – if you liked this post, you can find many more like it at blog.which4u.co.uk.
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