With the budget being declared, it looks obvious that there will a simultaneous increase in the car insurance rates. Even with the small increase in the IPT, there are chances that it affects the car insurance rates. Car insurance comparison sites declare that comparing the quotes can still help you land onto the best deals.
The budget pointed out an increase of 6% in the car insurance, which will be levied from the first month in the next year. Although the increase in the insurance premium tax did not betray the expectations in the insurance market, prior to the announcement of the year’s budget, one of the leading car insurers declared that this increase would bring untold affects in the insurance sector. Motorists who are stripped off money will care no more about insurances. On the contrary, the people who have been honestly paying their premiums will now have an added pressure on them due the increase. This move will also see an increase in the hit and run cases on the roads.
Another important problem that may develop roots with this increase would be an increase in the number of drivers, driving without any insurance cover. This is obvious in context with the fact that under the current economic scenario where the economies are still struggling to get revved up, people would not want to pay a huge insurance premium. This will definitely bring up more and more drivers opting to drive on the roads with less insurance cover or worse still, without any insurance at all. The increase in the IPT thus, shows no promises of any improvisations in the present economic scene.
Even with stringent increases in the insurance rates, the importance of an insurance cover cannot be denied. Car insurance comparison sites and insurers claim that the best way to mitigate and manage the increase in the IPT would be to compare car insurance quotes to analyze and assess the best insurance deals. Buying a low priced insurance policy will negate the effects of the increase and may benefit the driver.
Get low cost insurance when you use car insurance comparison sites online to compare insurance quotes.