So hopefully you have heard that Britain has voted to leave the EU which is also known as the Brexit, though no immediate action is going to happen the impending exit may possibly impact upon our nations motorists.
When it comes to car insurance, the gender benefits that were once available for female drivers which were ruled out by the EU in 2012 could be thrown out allowing insurers to once again offer females cheaper insurance. Before the ruling women were seen as lower risk and would commonly receive cheaper premiums than their male counterparts. Don’t hold your breath though it could take years.
Ok so the fuel prices going up weren’t a direct cause of the Brexit but they were a consequence, the results of the vote caused the value of sterling to instantly drop compared to the dollar and when trading in oil the dollar is used, so petrol prices rose. The value of sterling has recovered a bit since the vote but has not returned to the value it was before it. However though this is not the only factor when it comes to fuel prices there are many other factors that can affect the price such as supply and demand for example.
If your thinking of driving in or around Europe your insurance and breakdown cover are still essential and remember to check your cover if you are travelling by ferry as it may only do you well for third-party when you are away.
Brexit will undoubtedly cause reviews of many of the EU directives but because of the amount of time it will take to separate the UK law from the EU’s there will be an unavoidable transitional period that could take years to finalise.