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Congestion Charges

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2003 introduced a significant change to Londoner's who travel through the center of town each day. The initial success of the scheme has prompted other town councils to look at the introduction of a congestion charge. The effect on the motorist (most significantly to commuters) has been to increase their cost of travel quite dramatically. The cost of car insurance is forecast to rise over 2003, and the methods used before to obtain new tax disks has been updated.

The changes came into effect from 1st February 2003, so if you want to tax a vehicle and haven't received a reminder form V11 from the DVLA you will need to present your V5 or V5/2 supplement along with your V10 application. This can be done at any licence issuing Post Office branch.

The reason for the change to the taxing method is part of a Government initiative to combat vehicle crime. Thieves often tax stolen vehicles to make them more attractive and appear legitimate to buyers.

If you live in London the 'double whammy' of congestion charges and taxing arrangements may have resulted in increased inconvenience as well as increased cost. So where can motorists try to reduce their cost?

Insurancewide.com, the Internet based insurance portal recommends motorists investigate their insurance arrangements as the greatest saving can be made by understanding a bit about the insurance industry.

James Harrison, Managing Director of Insurancewide.com commented 'traditionally, to search and purchase insurance meant using a high street broker or a directory like the 'yellow pages. The Internet has moved the process into a new era but the same problem has remained. Only by trial and error is it possible to find insurance companies actually interested in their business and therefore offer truly competitive quotes.

InsuranceWide offers a simple, quick solution called The MotorWizard^TM. Customers are able to profile themselves against their own requirements before being matched to the most suitable insurers. Crucially, The MotorWizard^TM is able to access market rates from leading direct insurers, brokers, and intermediaries, a service currently unavailable through any other site. The MotorWizard^TM ability to profile customers before matching insurer and customer together provides the most effective method of significantly reducing your premium'.

Brendan and Clare live together in central London. They recently purchased a new Volkswagen Beetle and decided to insure it through Direct Line. They paid a premium of ?1,141 with ?50 excess and no roadside recovery. If they had used The MotorWizard^TM to find their best insurer they would have found:

Elephant: ?628.55 (?250 excess and full roadside recovery) SAVING: ?512.45
Churchill: ?664.50 (?250 excess and full roadside recovery) SAVING: ?476.60
Its4Me: ?1,141 (?250 excess and full roadside recovery) SAVING: ?0
Esure: Unable to quote due to age restriction on insuring the vehicle.

To find your perfect insurance partner use The MotorWizard^TM

Try the Insurancewide MotorWizard

All of the insurance products and services mentioned on this page are introduced by Insurancewide.com Services Ltd, which is authorised and regulated by the Financial Services Authority. Insurancewide?s service is subject to its terms and conditions


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