(Photo : M&W Studios from Pexels)

For any driver, the cost of using your vehicle can seem expensive in the extreme at present. Rising costs when it comes to driving cars have become a real problem for many. From the massive inflation of fuel to the cost of actually buying a car in the first place, many are finding getting into the auto industry to be too expensive. Sadly, for those already in the industry, the costs are not likely to go down anytime soon. Indeed, recent rises in the United Kingdom on the cost of car insurance are adding more pressure to already tight wallets and purses across the country.

A typical cost of £68/per year is being added to the cost of UK car insurance premiums. This means the average bill for a car insurance premium in the UK now reaches as much as £688 per year. This means that drivers who are already suffering from higher fuel costs, car tax rises, second-hand car values, and a general cost of living crisis face an even more challenging year.

Popular insurance platform Compare the Market has found that car insurance premiums are up in 2022 after dipping in 20212. This puts the price of car insurance at its highest since 2020 when average premiums were as high as £724 for the average Briton.

While those who carry out additional reading might still find better deals through individual platforms, the average cost has gone up across the industry. Insurance costs are skyrocketing in many industries, but the auto industry has arguably been the most adversely impacted.

These sky-high prices also pair up with a cost of living nightmare across the UK. Many traditional average incomes are no longer enough to sustain a quality of life that matches what was previously available. Included on top of this is the incredible increase in the cost of energy and gas for home use.

No end in sight to rising costs

For British drivers, then, costs are expected to continue as the UK goes through a tough financial period. The costs are expected to rise further for homeowners, as are the costs for those who are driving vehicles. As such, the average Briton will find that the same quality of life in 2021 will cost them even more today just to sustain the same standards as previously.

Cheaper policies can still be found, but even the cheapest of policies will now be dearer in 2022 than they were in 2021. Through shopping around and comparisons, drivers might be able to find better deals elsewhere on the market from lesser-known providers.

The main challenge comes from the fact that costs are expected to continue to rise across the insurance industry. With the conflict in Ukraine leading to artificially high prices in oil, gas, and fuel, just about everything costs more in Britain than it did a short while ago. The current situation, though, shows no signs of ending - meaning vast uncertainty and financial challenges for many British people, drivers or otherwise.