UK drivers pay a staggering £2.36 billion in excess for car insurance each year

All us car drivers have excess on car insurance but what is not known how much excess we all pay each year in the UK, well until now that is. Every year UK drivers are paying a staggering £2.36 billion in excess and that is on top of the £8.5 billion UK people spend out on their annual car insurance. These figures were released by U-Switch which is an online price comparison and switching service.

u-Switch have in fact warned that what seems to be a great and brilliant savings exercise can really become an expensive problem, to make this sound as simple as possible for example a saving of less than £100 on your car insurance premium may end up costing you more than ten times the amount in an event of a claim.

We could sit here all day debating this, you can read about this in full at Fair Investments Company who have an in depth look into this report.

How much is your car insurance access?