Fuel hikes lead to fewer car accidents
The constant increases in fuel prices have left motorists struggling to meet the bills. This has been worsened by increases in road tax, especially for those with vehicles classed as more polluting. It seems that there is a war on the motorist in the UK and not many drivers are happy about it.
One group of people who are happy about it are insurance companies. Statistics from American Department of Transport have shown a drop in vehicle travel mileage by 4.3 percent during March. The United States have also suffered from huge hikes in oil prices which seems to have directly influenced the amount of driving people are willing to do.
This is great news for insurance companies because less driving equates to less car accidents and therefore less compensation payouts. It is expected that there will be a decrease in the amount people are using their cars in the UK too soon, making UK insurers as happy as their American counterparts.
Updated on 6/4/2008