If you have recently received your annual car insurance renewal documents either in the post of by email it is quite possible that your renewal premium will be going up in comparison to the amount you were paying last year. So, what are some of the reasons why this may be the case unless you are very fortunate?
Well, if your car has been involved in a road traffic accident and been damaged then it will presumably need to go to an authorized repairer for bodywork to be carried out and you may also need some car parts replaced such as a front or rear light. Well, car body shop repairers are faced with having to pay more for car parts than perhaps a year ago. These increases will no doubt be passed on to the motorist resulting in motor insurers having to reimburse car body shop repairers larger sums than in the past. Such increases are invariably passed on to the motorist by way of a rise in car insurance premiums when the policy comes up for renewal.
The owner of a car repairer may well employ staff and those employees will probably have been rewarded with a salary increase. Such an increase may well be passed on to the motorist.
There are an increasing number of electric vehicles on our roads and, as a general rule, these cost more to repair than a normal petrol or diesel fuelled car. For one thing, it is believed that there are not enough specialist mechanics to look after such cars.
Modern cars tend to come equipped with an awful lot of technology such as blue tooth and sat navs. When such a vehicle is involved in a serious road traffic accident resulting in significant damage to such things this is likely to increase the average amount paid out in claims by motor insurance companies.
It is also worth noting that, unfortunately, some occupants of motor vehicles involved in a road traffic accident suffer bodily injury. The cost for some medical treatment has gone up significantly resulting in motor insurers deciding to increase car insurance premiums.
A considerable number of car insurance policyholders feel that the only way he or she can afford to pay for their car insurance is to pay monthly rather than pay the annual premium in one lump sum. A large number of motor insurers charge their monthly paying customers interest on top of the annual premium thus increasing the cost.
When you receive your car insurance renewal documents make sure that you consider getting a competitive quote to see if you can get the cover any cheaper. In this respect, why not give us a call to obtain a no-obligation quotation. We look forward to hearing from you.
