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The global economic downturn has been virtually indiscriminate in the business sectors that it has affected, but the car manufacturing industry has been hit worse than most. In the UK, car sales dropped by around a quarter in the three months before December, when the 2.5 per cent VAT reduction was introduced by the government.

Since then, various major car manufacturing firms have been forced to cancel shifts, as is the case with Nissan and Toyota, or offer their workers voluntary redundancy, such as Honda. And as consumers attempt to reign in their expenditure, such large purchases are increasingly being scaled back.

Insurancewide, one of the UK's leading online insurance comparison sites, is addressing these falling car sales by encouraging people to take a greater look at car insurance comparison. For example, if your vehicle is five years old and you're currently unable to replace it due to financial constraints, it's important to consider seeking a revised car insurance quote.

This is because, as your car gets older, it could require a higher level of protection as parts become older and the body experiences more wear and tear. In some cases, your new car insurance premium could be higher, but this extra expense is necessary to ensure that your vehicle is covered in the event of any accident or breakdown.

On the other hand, if you're making a car insurance comparison and quote request and you have not made a claim on your existing policy for a number of years, you could find yourself with a lower premium from some providers.

Car insurance comparison and used cars

Insurancewide specialises in providing market-wide car insurance comparison services to UK consumers. As well as recognising the necessity for many drivers to review car insurance as a result of falling new car sales, Insurancewide also recognises the importance of finding car insurance for used cars.

This type of specialist car insurance can be particularly useful for drivers who have hitherto regularly purchased new cars, but have been forced to buy cheaper used cars due to economic constraints.

About Insurancewide

Insurancewide, also known as Insurancewide.com Services Limited, is an online insurance comparison website offering insurance comparison tools that allow users to search the market and procure the best insurance policies and quotes.

Insurancewide was launched in August 1999 as the first insurance comparison website on the internet. The site also powered tools used on popular website Confused.com.

Insurancewide is FSA regulated.

Contact:

Insurancewide.com Services Ltd
90 Long Acre
London
WC2E 9RA
Telephone Quotes: 0870 112 8245
Telephone Our Head Office: 0870 112 8239
Email Insurancewide: enquiries@insurancewide.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Insurancewide in the following categories: Personal Finance, for more information visit https://pressreleasewire.responsesource.com/about.