why is insurance so expensive in the uk
why is insurance so expensive in the uk
When you buy car insurance in the UK, you're generally required to purchase third-party liability insurance in case you're found legally liable for damage that another driver causes. This is called third-party liability insurance, and it costs around 10% of the price of a car insurance policy. Some people also choose to purchase additional coverage such as uninsured motorist coverage or comprehensive coverage, which can also cost between 10% and 20% of the cost of a car insurance policy. ///
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| why is insurance so expensive in the uk |
One of the biggest factors that determines the price of car insurance is the state in which you live. The riskiness of a driver is indirectly correlated to the price of car insurance, so the more financially secure a state is, the more expensive car insurance will be there. This makes car insurance in the UK unbelievably expensive, with the average driver paying $1,000 or more per year. The only way to avoid these high rates is to live in a less financially secure state, such as Vermont or Texas. **
In the United Kingdom, car insurance is known as motor insurance, and is compulsory. It's designed to protect you and other drivers if you have an accident. The cost of car insurance depends on a number of factors, including where you live, whether you have comprehensive or third party insurance, and whether you own a car or just drive for work. Most car insurance policies are based on a combination of your age, location, and driving record.
The cost of insurance can be a major obstacle for people with poor credit. Even if you manage to get a loan, you'll probably have to pay high interest rates and fees. This means that paying for insurance will quickly become impossible. Fortunately, there are alternatives to paying for insurance out of pocket.
When you buy insurance in the UK, you're often required to pay a premium that goes toward paying the company's insurance premiums. These premiums make up a large part of the price of the insurance, which means that you're paying a lot for very little in the way of protection. In many cases, insurance in the UK is significantly more expensive than it is in the US, which is surprising given that the UK is part of the EU. The reason that insurance is so expensive in the UK has to do with a difference in the way the two countries regulate the industry.
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