CAR OWNERS SAVED AVERAGE £670
jeanniejeanniejeannie.co.uk BLOG Friday 30th April 2021
THOUGHT FOR THE DAY
Car owners saved on average £670 on motoring bills in the last 12 months, says insurer.
Motorists have collectively saved £25.6billion on vehicle expenses since the start of lockdown in March 2020, according to a new report.
With the public told for most of the previous 12 months to stay home to stay safe, car usage has plummeted over the course of the year.
The average owner has spent £670 less annually than they would normally, or £56 a month, says Direct Line.
The motor insurer is one of many to offer to pay drivers back who have driven less than expected due to the pandemic.
Direct Line’s Mileage MoneyBack initiative has provided both new and existing customers with a refund on the miles they don’t drive, with customers able to pocket two per cent of their total annual premium for every 1,000 miles they don’t drive, up to a maximum of 20 per cent of their premium returned.
According to the research, the pandemic has led to an uplift in vehicle ownership, even as motorists are saving significant amounts in running costs.
In fact, 1.4 million people have purchased a car for the first time since Covid-19 restrictions came into force last year as they look for ways to travel which don’t involve public transport, the insurer says.
Even with more people owning cars, the number of miles driven has reduced substantially.
A survey of 2,000 motorists led the insurer to estimate that some 13.9 million licence holders have driven fewer miles over the year than the figure cited on their insurance policy.
‘Individually drivers are making 2.3 fewer journeys each week, equating to 88 million jointly,’ it claims.
This reduction in journeys means fuel has been the biggest saving for motorists during the pandemic. Each driver has spent around £20 per month less on fuel, amounting to a staggering £780.6 million collectively across the country.
HOW MUCH DRIVERS IN DIFFERENT REGIONS HAVE SAVED ON FUEL ON AVERAGE SINCE THE FIRST COVID-19 LOCKDOWN
REGION AVERAGE MONTHLY FUEL SPEND, PRE COVID-19 (MARCH 2020) AVERAGE MONTHLY FUEL
SPEND, POST COVID-19 SAVING
North West £91.80 £48.80 £43.00 (47%)
East of England £73.50 £45.00 £28.50 (39%)
Wales £64.90 £40.20 £24.70 (38%)
West Midlands £77.90 £56.70 £21.20 (27%)
Yorkshire and Humberside £69.10 £49.80 £19.30 (28%)
South West £66.10 £47.40 £18.70 (28%)
Scotland £67.10 £48.50 £18.60 (28%)
East Midlands £79.00 £63.00 £16.00 (20%)
North East £84.90 £70.20 £14.70 (17%)
South East £80.10 £65.50 £14.60 (18%)
London £94.90 £83.90 £11.00 (12%)
Great Britain total £77.60 £57.20 £20.40 (26%)
Source: Direct Line
Regionally, those living in the North West are spending considerably less on petrol during lockdown than anywhere else in the UK.
Motorists in the region are putting £43 less fuel in their cars now per month than before Covid-19 restrictions were introduced in March 2020. This is followed by those in the East of England (£28.50) and Wales (£24.70).
Owners are also spending less on their vehicle’s maintenance, which could cause headaches when they start to become more reliant on them when lockdown measures are eased over the next two months.
Expenditure on MOTs and servicing is now £13.70 lower a month than before March 2020, and repairs are £9.90 lower than before due to less usage.
Interestingly, despite fewer people traveling into towns and city centres for work or pleasure, the cost of parking has increased by an average of 50p, the report claims.
AVERAGE SAVINGS ON MOTORING BILLS SINCE THE FIRST COVID-19 LOCKDOWN
COST PRE COVID-19) COST POST COVID-19 SAVING
Fuel £77.60 £57.20 £20.40
(e.g., MOT, serving, car washing) £74.70 £61.00 £13.70
Repairs £56.90 £47.00 £9.90
Parking £23.80 £24.30 £0.50
Direct Line said motorists need to start becoming more vigilant of the condition of their cars, with 6.3 million motorists carrying out fewer checks on tyre pressures than pre-pandemic.
One in six (17 per cent) are not checking screen wash as frequently, while oil levels (13 per cent), lights, electrics and brakes (all 12 per cent), also seem to have fallen down the priority list.
Lorraine Price, head of motor insurance at the provider, said: ‘Lockdown has undoubtedly changed the relationship many of us have with our cars. With more people working from home and not being able to leave the house unless for an essential journey, vehicles aren’t moving as much as they used to.
‘While it’s great to see many being able to save some money during these difficult times, it is important to remember to carry out simple checks to ensure cars operate safely when you do need them.
‘Life changes were made so abruptly last year that people weren’t able to factor reduction in mileage into policies early on in the year. We want to support our customers in any way we can, that’s why we want to make sure that if customers drive less, they also pay a little less.’
ADDITIONAL ECONOMICAL NOTE
The bottom line. Britons have saved an estimated £180bn in their bank accounts during the pandemic, and economists predict a spending spree will help revive the economy in just over 12 months. BBC
TOP TEN OF THE DAY
The Top 10: B-sides that should have been A-sides
Good tunes that were originally released on the other side of a single, known to younger readers as ‘track 2’
- “Green Onions”, Booker T and the MGs. B-side to “Behave Yourself”, 1962.
- “A Change Is Gonna Come”, Sam Cooke. B-side to “Shake”, 1964.
- “You Can’t Always Get What You Want”, the Rolling Stones. B-side to “Honky Tonk Women”, 1969.
- “Bell Bottom Blues”, Derek and the Dominos. B-side to “Layla”, 1971. Thanks to Andy Ecelson.
- “The Man Who Sold the World”, David Bowie. B-side to reissue of “Life on Mars?”, 1973.
- “Silver Springs”, Fleetwood Mac. B-side to “Go Your Own Way”, 1976.
- “52 Girls”, B-52s. B-side to “Rock Lobster”, 1978. With thanks to the well-known Alex.
- “Liza Radley”, The Jam. B-side to “Start!”, 1980. “A very great injustice,” said Patrick O’Flynn.
- “How Soon Is Now?” The Smiths. B-side to “William, It Was Really Nothing”, 1984, which had two songs on the B-side, the other being “Please, Please, Please, Let Me Get What I Want”, which also should have been an A-side.
- “Good Riddance (Time of Your Life)”, Green Day. B-side to “Brain Stew”, released in Germany, 1994.
No room, then, for “Pearly”, Radiohead, the B-side to “Paranoid Android”, 1997,
“The Model” by Kraftwerk, but it was originally the A-side in Germany, although it was first released as a B-side in Britain.
“Half the World Away” by Oasis, the B-side to “Whatever” (1994).
“Your Song” by Elton John (1970). This was originally released as the B-side of “Take Me To The Pilot.”
“Maggie May” by Rod Stewart (1971) The song was released as the B-side of the single “Reason to Believe”
John Rentoul @JohnRentoul of The Independent.
DON’T FORGET TO LAUGH EVERYDAY
INSPIRATIONAL QUOTE FOR THE DAY
Lighten up, just enjoy life, smile more, laugh more, and don’t get so worked up about things. – Kenneth Branagh
Happiness is…Saving £670 in a year.
GRANDAD’S ONE LINER JOKE OF THE DAY
If you don’t pay your exorcist, do you get repossessed?
Love is…someone who is there to help you pick up the pieces.
A time to stay put and save money…A time to travel afar and spend, spend, spend!
1789 George Washington is inaugurated as the first president of the United States of America.
LITTLE NUMBERS: SOME HORRBLE SOME NICEGeorge Washington is inaugurated as the first president of the United States of America.
Total Cases 4,414,242 Latest Daily New Cases 2,445
People in Hospital 1,553 Change on Day -84
Total deaths 127,502 New Deaths 24 Hr Period 22
Total 1st Vaccine Dose 34,094,048 Latest Daily Figure (1st Dose) 134,140
Latest Daily Figure (2nd Dose) 462,885
©2021 Phil M Robinson