Renew Car Insurance UK

A recent survey by car insurance provicer Liverpool Victoria found that almost 20% of UK drivers had either sold or downsized their car in the last year to combate the credit crunch and save on cost, such as petrol and car insurance.

Around 60% stated that fuel prices was the main reason for downsizing their cars, but with the cost of car insurance, almost one third also stated cost of car insurance as a reason for downsizing to a car with a lower car insurance premium.

The research also shows that the new car business will struggle as a quarter of the respondents indicated that they would consider a second hand car to save on cost.

Car insurance costs are also predicted to increase this year as several sources in the business claims that prices are now up to 20% lower than they need to be. This just enforces the importance of comparing car insurance prices and cover before taking out a car insurance policy.

You can check out our overview of car insurance comparison sites and direct providers here.

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