We all need car insurance, and chances are that you have already made your choice with regards to car insurance now at this very moment that you are reading this article. Car insurance became obligatory in the UK in 1930, when a law was introduced that required all motorists to have at least third-party personal injury insurance. Nowadays, car insurance in the UK is being regulated by the 1988 Road Traffic Act.
It is safe to say that car insurance is compulsory in the UK. As a matter of fact, driving a car without insurance is illegal. You might even be wondering about the use of having monthly car insurance when it is necessary to be insured on a regular basis. Nevertheless, there might be reasons why one would want to opt for monthly car insurance.
Balance your budget
Due to the economic crisis, many consumers are on a budget. Nevertheless, fixed costs have been continually the same, or are even on the rise. Therefore the way we use our cars has changed a lot over the years. The cost for yearly car insurance may have become too great a burden for you to carry, and you just may have made the choice of no longer owning a personal car.
Are you going on holiday?
Maybe you have the use for a car during certain periods of the year, such as the holidays. Maybe, you do own a car, but you might be living or working abroad for most of the year? In all aforementioned cases, the cost for yearly car insurance cannot be justified on a yearly basis, and therefore it would be a good idea to opt for a short term solution such as monthly car insurance.
Good business strategy
Managing your personal budget or going on holiday in the UK are not the only reasons one might prefer monthly car insurance over a long term plan. If you are a business owner and you find yourself staying outside the UK on an extended business trip, monthly car insurance might enable you to use your own car each time you come home to the UK.
As with all kinds of insurance, also for monthly car insurance there are different options available. Mostly, these plans are designated to be used between 1 – 28 days; they will offer immediate cover, facilities for online payment, etc. Moreover this kind of insurance will accept drivers between the ages of 21 – 69.
If you are under 21, it is necessary to be alert when choosing monthly car insurance. Most offers for monthly car insurance plans will not be open to under 21 year olds. Should this be the case, you have no other choice than to opt for long term car insurance.