Costs of motoring 'on the rise'

The annual cost of running a vehicle has increased yet again during 2009, Sainsbury's Finance has reported.

According to the firm, the costs of motoring have risen by 2.68 per cent on last year, excluding any interest repayments on purchase loans.

Sainsbury's reports that the most significant cost increase this year has been in motor cover, which is up by almost 13 per cent on 2008 and by 23 per cent compared to 2007 – highlighting the importance of seeking cheap motorhome insurance.

Tax costs have also risen, the firm says, while household budgets are also being pressurised by fuel prices and service requirements.

Ben Tyte, Sainsbury's car insurance manager, said the cost of driving "can be kept better in check" by shopping around, particularly for insurance and servicing.

Caravan Wise reports that cheap motorhome insurance is generally available, because drivers take few risks at the wheels of such vehicles.

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2009-11-17 15:06:42 © Moneyextra.com