Research has shown that those travelling between 5,000 and 6,000 miles a year could be paying as much as £200 more than those that drive 12,000 miles and more.
How Low Mileage Drivers are Paying More
After analysing 2.5 million car insurance quotes between July and October 2018 made on price-comparison Money Supermarket it was found that those travelling up to 6,000 miles a year will pay £233 more than those driving 12,000 miles.
Younger drivers between 25 and 29 years old found that they were paying £229 more for their insurance when compared to those that were travelling between 11,000 and 12,00 miles on an annual basis.
It wasn’t only younger drivers that were seeing this trend, as the research also showed that the drivers aged between 50 and 64 years old travelling 5,000 miles paid £10 more in relation to insurance when compared to drivers in the same age group travelling between 11,000 to 12,000 miles per annum. One Sure Insurance are one of the UK's fastest growing insurance intermediaries. Their trained advisors are able to provide information and advice on different insurance policies available to ensure you are matched to one that meets your requirements.
The Number of People Affected
The study carried out that around 60% of the 14,503,248 cars that had received an MOT in 2017 had driven less than 7,000 miles. This means that millions of drivers could be paying more for their insurance, simply because the vehicle is used for short journeys.
This is only a study of vehicles that have received an MOT, so there could be even more drivers who are paying more insurance because of the shorter journeys made.
However, there are other forms of insurance available that can offer drivers the opportunity to reduce their insurance premiums.
Pay as You Go Car Insurance
Pay as you go car insurance is also known as black box insurance and offers insurance that based on facts as opposed to statistics. The data is obtained by the insurance company attaching a device to the vehicle or via the use of a smartphone app.
Pros and Cons Associated with Black Box Car Insurance
Black box car insurance is like any other form of insurance in that it can benefit some road users while hindering others.
Younger and older drivers travelling short distances will often benefit from black box car insurance, whereas those travelling longer distances could find that they end up paying more than they would with a standard policy.
When looking at car insurance, it’s important to look at the options available and choose insurance that fits the requirements best.
While not for everyone, the use of black box car insurance has been a positive move for those looking to reduce costs in relation to insurance premiums. It can also ensure that the insurance put in place is valid should an accident ever occur, and can even help with ascertaining as to where he fault lies in relation to the accident.
Pros and Cons Associated with Black Box Car Insurance
Black box car insurance is like any other form of insurance in that it can benefit some road users while hindering others.
Younger and older drivers travelling short distances will often benefit from black box car insurance, whereas those travelling longer distances could find that they end up paying more than they would with a standard policy.
When looking at car insurance, it’s important to look at the options available and choose insurance that fits the requirements best.
While not for everyone, the use of black box car insurance has been a positive move for those looking to reduce costs in relation to insurance premiums. It can also ensure that the insurance put in place is valid should an accident ever occur, and can even help with ascertaining as to where he fault lies in relation to the accident.
*Collaborative Post
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