Car insurance for multiple cars on the driveway – can you save money?

With over 30% of motorists with multiple cars on their driveway at an average value of over £15,500, their car insurance and running costs add up, so it’s no wonder many are considering selling a car to save money.

According to Tescocompare.com, 30% of motorists have two or more cars on their  driveways – spending £8,600 on the first, £7,000 on the second and £5,900 on the third.

Interestingly the car insurance premium on the main car is an average of £337, the second £317 but the third is up at £540 – perhaps because a higher risk, younger person is the person insured.

With high costs and the recession biting people are looking to save money and considering reducing the number of cars they have.

Debra Williams of Tescocompare.com comments ‘Before resorting to choosing between selling your or your partner’s car, think about other ways to cut the cost of motoring. Shopping around for car insurance is an essential first step, expecially if you haven’t switched insurers recently.

Drivers could find that they can reduce the overall cost of their annual premiums in just a matter of minutes.’

See for yourself, compare car insurance quotes using a comparison website such as that offered by Tescocompare.com, Confused.com or Gocompare.com.

It really is simple and you can quickly see the quotes from the different providers and select the best priced cover to suit your needs.

You also might find our article ‘What do car insurance comparison websites offer?‘ useful.