UK set to become a nation of one car households
- More than 16 million drivers(1) consider downsizing as motoring costs soar -
3rd October 2008: New figures published today reveal that almost half (48 percent) of UK motorists are being forced to consider downscaling to just one vehicle per household, in an effort to combat the rising costs of running a car.
Research conducted by esure car insurance reveals that Brits are not only reducing the number of cars they own, they are also opting to keep their current cars for longer.
A massive 71 percent of drivers questioned admitted they are now resisting the urge to buy a new vehicle in order to save money, whilst 58 percent of those surveyed cited the slump in value of used cars as a reason for keeping their current vehicle for longer.
Regional Differences
Drivers in the North East are tightening their belts more than any other region, with 59 percent of those polled contemplating cutting the number of motors they own, compared to just 41 percent of motorists in the North West.
Gender Divide
The poll also revealed that men are much more likely to splash out on a new car than women. Almost three quarters (74 percent) of females surveyed claim they would keep hold of their current motor for longer to save their pennies, compared to just 67 percent of their male counterparts.
Mike Pickard, Head of Risk and Underwriting at esure car insurance, says: “With the combined effect of rising motoring costs, high fuel prices and the credit crunch adding strain on motorists’ pockets, it comes as no surprise that UK drivers are opting to reduce the number of vehicles they own. The fact that they’re also keeping their cars for longer is proof that UK drivers are becoming increasingly conscious of keeping motoring costs down.”
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No claim discount up to a maximum of 75 per cent - policyholders with 5 years or more no claim discount immediately get a 70 per cent discount and can then earn an extra 1 per cent discount per year for the next 5 claim-free years with esure.
Eligible drivers who protect their no claim discount get ‘protection for the life of their policy’ - giving them a discount level regardless of any claims made throughout the life of their policy with esure. This does not protect your premium going up. Subject to continued eligibility and the policy remaining in force.
Vandalism claims do not affect a policyholder’s no claim discount as long as the incident has been reported to the police and has a crime reference number.
Uninsured driver claims do not affect a policyholder’s no claim discount as long as the customer is not at fault.
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Notes to Editors:
(1) Figure based on 48 percent of total UK cars (DfT Transport Statistics – 33,522,106 motor vehicles currently licensed 2006). ICM Research interviewed a random sample of 1006 adults aged 18+ by telephone between 30th – 31st July 2008. Interviews were conducted across the country and the results have been weighted to the profile of all adults. ICM is a member of the British Polling Council and abides by its rules. Further information at www.icmresearch.co.uk
About esure:
esure was launched in 2001 and is a joint venture between Peter Wood and HBOS. The company offers car, home, pet and travel insurance over the internet and by phone. esure also offers car insurance cover through the brands Halifax, Sainsbury’s, Sheilas’ Wheels and more recently home insurance through the Sheilas’ Wheels brand.
Sponsorship:
esure has secured one of the UK’s most iconic sponsorships: the ITV National Weather.