Car Insurance Fri, Sep 12, 2024
Is pay-as-you drive car insurance set to hit the big time?
While it is already available in the UK to a lesser extent than countries such as the US, it looks as though the pay-as-you drive insurance sector is set for substantial growth over the next few years. It seems that more and more UK drivers are considering the pay-as-you go insurance service in order to keeps costs down to a minimum with the recession starting to hit home. But will it work?
The UK pay-as-you drive insurance market is not as well developed as it could be at the moment but as business levels increase we will see new entrants to the market and competition intensify. This will be when we will see wide scale promotion of the service – something which is sure to catch the eye of many cost conscious motorists across the country.
When you compare the day to day pricing against your average car insurance package it is a lot more expensive, but the fact that it will only be required on an adhoc basis means that many drivers will end up saving money in the long run. Pay-as-you drive car insurance is an area of the industry which you should watch carefully!
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