Car insurance brokers and insurers are championing new parliamentary legislation which makes it illegal for any one who owns a car to not have car insurance whether parked up or on the road.
However while several brokers are stating that the uninsured costs the average car insurance policyholder up to £30 a year extra, will prices actually come down?
The good news is three fold. It’s been a long term belief of many that if you have a car then it should have full breakdown insurance and be insured just like any other motor vehicle irrespective if it is continually on the road or not.
So firstly all cars in an incident will now or should be now fully insured, secondly premiums should fall and thirdly, recent news that the Office of Fair Trading is to halt an insurer process which enables insurance houses to compare their own products against each other and keep insurance policy prices inflated artificially.
Rather than save the premium payer £30 a year on car insurance and breakdown cover as insurers seemingly profess without actually stating any future price reductions themselves, the actions by the OFT and the new legislation should see prices fall much further across the board for every type of car insurance.
The funny side to all of this is the way an industry usually reacts to future news and puts measures in place before announcement, according to other reports, car insurance premiums rose a whopping forty percent during 2010 which should wipe out any good faith any insurance comparison shopper might have had in the market.
That’s not so say that there aren’t still deals and discounts to be found when searching out the best car insurance for your vehicle this year. Compare online and take your time finding the right car breakdown insurance policy to meet your needs.
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