The cost of car insurance seems to go up every year when we receive our renewal notice. This is something that we would rather was not the case especially if we are also faced with increases in the cost of mortgage repayments, fuel for the car and a rise in gas and electricity bills.
Some research has been carried out on behalf of the price comparison website Confused.com that would indicate that single people are paying more for their motor insurance than if he or she were married.
For instance, a married woman who is 30 years of age pays an average of £905 per annum for insuring her car whereas a single woman of the same age paid an average of £1,102 per annum. That is an extra £197 per annum on average.
A married man who is 37 years of age pays an average of £962 per annum to insure his car whereas a single man of the same age paid an average of £1,129 per annum meaning that is an extra £167 per annum on average.
So, why is there such a difference? Well, it could be that someone who is married and has children in the car may drive more carefully than someone who is single with no children. Also, it may be that a married couple may share the driving with their partner meaning that the risk may be spread.
There are many other factors that affect the cost of motor insurance such as the make and model of car you drive, where you live, the level of cover you require, how many miles per annum you drive, what you do for a living and your driving experience. Do bear in mind that if your cover is shortly due to be renewed then you may wish to get one or more quotes to see if you can get cheaper cover elsewhere.