Motorists forced to choose cheaper car insurance

Thu, 11 Jun 2009

One in five British motorists are opting for the cheapest car insurance they need in order to save money, according to research from uSwitch.com.

A poll carried out by uSwitch.com revealed that 6 per cent of third-party insurance holders have downgraded their policies from fully comprehensive cover in recent months in order to cut down on their spending. The research also found that, on average, fully-comprehensive cover is 11 times more expensive than other insurance policies offering less protection.

Mark Monteiro, insurance expert for uSwitch.com, said: "Motorists should be aware that third-party cover could be a false economy. This is because in the event of an accident, a motorist is in danger of having the amount saved on the premium completely wiped out by the cost of any repairs to their vehicle ".

A recent study conducted by Sainsburys Finance this week found that 4.5 million Britons plan to purchase a second-hand car over the next few months.
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