Drivers Losing Millions In Roadside Gamble
Wednesday, November 19th, 2008
Britons could be putting themselves in financial jeopardy as a result of taking a chance with breakdown cover, the AA has warned.
According to the group, motorists are collectively forking out more than 120 million pounds to cover the cost of breakdowns as a result of their decision that roadside recovery insurance is an unnecessary expense. The group warned that this game of “roadside roulette” has ended with more than two million people around the country footing the bill for breakdown assistance. It went on to claim that while drivers may be able to cut down the costs of motoring in the short term by cutting back on recovery insurance, some have found themselves facing costs three times higher than the typical policy to have their vehicle towed in an emergency.
For drivers who are on the lookout for a new vehicle, taking out a car loan may prove an effective way of purchasing the motor of their dreams without putting undue strain on other areas of financial commitment. Indeed, the financial flexibility that a loan provides could allow people to meet costs of breakdown cover and comprehensive insurance in order to ensure that they are protected in the event of an emergency.
Indeed, the AA warned that while more people may be looking to cut back as the credit crisis rumbles on, skimping on breakdown cover may end up putting an additional burden on already stretched purse strings.
Andy Taylor, winner of AAs Patrol of the Year award, advised: “It might seem tempting to save a few quid now and gamble that your car will carry you through the downturn without crunching to a halt - but driving without breakdown cover is like roadside roulette. It will cost you dearly if you break down - in money, time and sheer stress. Just ask those who have lost 120 million pounds in the last year - thats enough to buy 12,000 new cars. Battery and tyre problems and mishaps with keys cause a third of all breakdowns and can strike at any time, regardless of the age or type of car.”
The AA went on to claim that those without breakdown cover may wish to apply for a policy quickly as the peak breakdown period is approaching. It warned that as the weather grows colder, there is a sharp rise in the number of engine failures and other faults. As an example, it noted that extended use of car heaters and lights means that drivers are more than twice as likely to run down their cars battery as they are during the summer.
Elsewhere, LV= has also urged consumers who are considerate of high car costs to make sure they clear out their car to avoid attracting the attention of thieves. It noted that approximately a quarter of all motorists had had their car broken into in recent months.
For those who are searching for a new vehicle, taking out a car loan could afford people the flexibility to invest in optional extras such as alarms and immobilisers to deter would-be thieves.
All About Loans providing you with breaking car loans news.
As the country teeters on the brink of recession, Abbey has urged people not to forget the importance of home insurance cover as they attempt to safeguard their financial security.
Nearly one third of Britons have been employed overseas at some point in their lives, new figures have shown.
While many Britons may be feeling the pinch at the moment, one car insurer has warned that failing to keep their possessions secure could end up putting their finances under further strain.
Following recent media reports that there has been an outbreak of catnapping in Woolaston in the West Midlands, Sainsburys has urged people to consider pet cover to help get their animal back should it go missing.
As Halloween draws near, consumers have been urged to protect themselves against a financial fright.
With the clocks due to go back this coming weekend and nights getting longer, residents need to protect their belongings as opportunistic burglars go on the prowl.
The burden of car insurance premiums does not look set to lighten any time soon, the AA has warned.
During their attempts to reduce pressure on their short-term spending, consumers should look to make sure that their capacity for long-term financial management does not come under unnecessary strain.
The Financial Services Authority (FSA) has imposed a seven million pound fine on Alliance & Leicester after it found that it had not given its 
As the ongoing economic turbulence ripped through financial markets again this week, Defaqto has asked how long Britons could last without critical illness cover.
