Nobody likes to see his or her business expenditure increasing especially in the current financial climate here in the UK. Regrettably, that is what is happening to a lot of businesses. So, couriers will be disappointed to read that the cost of insuring cars has risen yet again this year.

Whilst we are referring to cars, it is quite possible that the amount you pay for your courier insurance will go up when your policy comes up for renewal.

On a quarterly basis, the Car Insurance Price Index is produced and this does not make for good reading as in the 3 months to June 2023 the average cost of insuring a car has got to a record level of £776 per annum. 12 months ago the average premium was £554 per annum. That is a very large difference. In fact, it is a rise of 40%.

Young drivers tend to pay the most for their car insurance as, for one reason, he or she is more likely to be involved in a road traffic accident than an experienced motorist who is 50 years of age. An 18 year old is being charged an average of £200 plus per month to insure his or her car. We are sure that you will agree that is a large amount of money. In some cases, it may be more than the amount a youngster pays to the car finance company every month.

If you happen to live in Inner London then you will not like to hear that the average amount of your car insurance is more than in any other region in the UK. One of the reasons for this may be that you are more likely to be a party to a road traffic accident than in say the Scottish Highlands and Islands as there are more motor vehicles on the roads in Inner London. The average amount paid for car insurance in Inner London is £1,257 compared to £560 per annum in the Scottish Highlands and Islands – more than twice as much.

So, if your courier insurance is coming up for renewal shortly don’t just accept the renewal quote without first checking to see if you can get the cover cheaper with another provider. Why not get in touch with us and we will see if we can help you save some money with no obligation to proceed.