MPs set to lower car insurance

R ising car insurance premiums and fraudsters staging car accidents were among the reasons MPs said the cost of motor insurance is increasing.

At a Transport Select Committee meeting to discuss ways to cut costs of motor insurance, Labour MP Louise Ellman said despite improvements to roads, premiums had still increased and that management companies were a factor in increasing the cost of running a car.

Tory MP Karl McCartney said bigger fines should be put in place to tackle uninsured drivers and he called for making it compulsory to have a valid insurance notice in car windows, similar to how tax disks are displayed.

The cost of car insurance for under 25's is on average, £2,250 per year. 

But don't despair as there are masses of ways to reduce car insurance premiums with specialised tricks, dos and don'ts to slice off every spare penny.

Read our blog on ways to reduce car insurance premiums.

Source: Press association