Drivers warned over multi-car insurance - Car insurance - News - Moneyfacts

News

Drivers warned over multi-car insurance

Drivers warned over multi-car insurance

Category: Car insurance

Updated: 26/11/2012
First Published: 15/04/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Nearly a third of UK households with more than one car could be paying as much as 60% over the odds for their car insurance, new figures have revealed.

Three out of ten households in the UK now have more than one car, according to research by swiftcover.com.

However, drivers who think they are saving money by opting for so-called multi-car insurance policies have been told they might be able to cut costs by taking out separate cover for each vehicle.

The insurance company compared the price of putting two popular cars on a multi-car policy with the cost of insuring them separately and found that multi-car policy users could be paying twice as much as they would for individual car insurance cover.

"With the number of multi-car households on the rise, it's more important than ever that customers shop around to make sure that they're getting the best deal on their car insurance," said underwriting director, Craig Staniland.

"Bear in mind that multi-car discounts aren't always the cheapest option. It may be more cost-effective to insure each car separately, so make sure you explore all the options before choosing your car insurer, especially when renewing, as the cheapest insurer last year may not be getting you the best deal this year."

Compare car insurance providers

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Black Friday sees increased motor incidents

Today can be a day of big savings, but it could also end in tears, as research has revealed that motor incidents were up by 8.5% on Black Friday last year. It’s therefore extra important to keep an eye on traffic today, not just on bargains.

Whiplash crackdown could cut car insurance costs

Whiplash claims have rocketed in recent years, and they’re driving up the cost of car insurance. So it’ll come as welcome news that the Ministry of Justice is stepping in, and will hopefully reverse the trend.

Be extra cautious on the roads today

Today may be Halloween, but it’s also the first Monday after the clocks go back. According to Admiral, this traditionally sees a higher number of incidents on the road, and the insurer is urging motorists to exercise extra caution as a result.
 
Close