While car insurance is a prerequisite for car ownership, its costs in the UK are shooting through the roof, putting extra pressure on families struggling to make ends meet.

In the last quarter of 2023, the average yearly private car insurance premium soared to £627. That's a hefty 12% leap from the previous quarter and a whopping 34% surge compared to the same period in 2022 (ABI, 2024). And for electric vehicle owners, things are even worse – some are facing double the insurance premiums they paid just a year ago (The Guardian, 2024).

This surge in insurance expenses has only worsened the broader cost of living crisis, pushing some low-income families to give up their wheels for good.

A recent survey uncovered that nearly half of Brits (55%) feel their car insurance is overly expensive, and almost one-fifth (18%) have been forced to dip into their savings to foot the bill (Forbes Advisor, 2024)!

Are you worried about the rising costs of insurance and car ownership? Don't worry, Co Wheels is here to your rescue!

When you join our car club, you get access to a diverse fleet of vehicles across 60+ locations in the UK, available to book 24/7. You pay only when you need a ride – starting from just £5.75 per hour or £44 for a whole day. No ownership expenses, maintenance costs, parking fees or fuel charges. It's like having a car without the commitment, expenses, and hassles, all at the annual membership cost of £85 (£25 one-time joining fee and £5 monthly fee).

And the best part? As a Co Wheels member, you are automatically covered by our comprehensive insurance for both personal and business use. Even if you're at fault in an accident, our collision damage waiver has your back. By paying just £60 annually, you can slash the excess fee from £600 to a mere £100. No more breaking the bank for your insurance. Our collision damage waiver covers you and up to four other drivers on your account for a whole year, saving your family lots of money. Especially when an average car remains parked for 96% of its lifetime (RACFoundation, 2021) and costs over £3800 to run each year (NimbleFins, 2024), Co Wheels is a pocket-friendly alternative to car ownership.

Plus, we're committed to sustainability. Co Wheels boasts one of the greenest fleets in the UK, including electric, hybrid, and fuel-efficient vehicles, and each Co Wheels car takes 22 private vehicles off the road, helping reduce congestion and emissions (CoMoUk, 2022)!

So, say goodbye to the crunch of rising insurance costs and hello to a smarter way to get around. Ditch the exorbitant premiums and hop on board the affordable, hassle-free way of driving with Co Wheels.

Become a member today and make the switch to shared mobility!