'Wrong' car insurance could cost motorists
Published On 5 June 2007
Some people in the UK could save themselves money if they opted for fully comprehensive car insurance, rather than third party cover.Traditionally, third party fire and theft (TPFT) is thought to be a cheaper option than fully comprehensive car insurance. However, new research from Insurancewide.com indicates that this might not be the case for all motorists.
For example, the website found that a driver aged over 35 with cars worth less than £2,500 typically pays between £500 and £700 for TPFT, but only £400 - £500 for fully comprehensive insurance.
"The type of cover you choose can have a significant impact on the cost of your motor insurance and of your overall driving costs," explained James Harrison, chief executive of the website.
"Our research shows that people who perhaps don't use their cars much or who lock them up safely are still opting for TPFT cover when in fact they could pay less and be more protected with fully comprehensive policy.
"The cost of motor insurance premiums depends on a whole host of variables. A thorough online comparison system that takes your individual profile into account will cut out the hassle of searching and do the work for you."
A recent study by the AA found that the average fully comprehensive car insurance premium in the UK was £802 in the first three months of 2007.
