THOUSANDS of drivers and motorists have rushed to cancel their car insurance. There is chaos on Britain’s roads as 900,000 drivers, road users and motorists have been forced to cancel car insurance as we head towards Christmas, after being priced out.
More than 900,000 road users up and down the UK have been priced out of driving in the last 12 months because their car insurance was too expensive, according to Citizen’s Advice. Citizens Advice is urging the government to help tackle runaway costs.
They are saying 2.6 million people no longer drive because they are unable to afford the soaring cost of car insurance. This includes almost 900,000 people who have had to cancel their cover in the last 12 months, in addition to 1.7 million people who have already been priced out of the market for longer than a year. 77 per cent told Citizen’s Advice not driving had a negative impact on their day-to-day life.
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Over seven million people, one in five, is having to borrow, cut back on essential items, or fall behind on other bills to pay their car insurance. This is because the price of car insurance has soared by 40 per cent in the last two years; the average cost of car insurance for the last 12 months was £812 according to Citizen’s Advice.
Dame Clare Moriarty, chief executive of Citizens Advice, said a “shocking” number of people were being excluded from driving and was concerned a hidden affordability crisis is affecting millions of people. She went on and added: “We welcome commitment by the government to tackle this issue but it’s crucial that nothing is left off the table.
“Bold action must be taken to tackle skyrocketing costs, including targeted support for those struggling most. We need a market that works for everyone, leaving unaffordable insurance premiums behind once and for all.”
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.