According to a new report issued by one of the UK’s largest car insurance firms, a large amount of people are facing additional debt worries due to rising insurance premiums.

The report has revealed that car insurance is rising by around 2% each year as a national average. The increasing costs are forcing some consumers to turn to credit as a means to keep their cars on the road.

The biggest detriment for people using credit such as loans or cards to pay for insurance, is the additional costs that such means bring. For example, on top of the rising cost of insurance, which is historically causing consumers to turn to credit, they are also incurring further costs in the form of interest, which is tagged to every loan or credit card.

It is suggested that insurance premiums are likely to continue rising over the next few years, with the primary reason for increases stemming purely from a higher than normal amount of claims.