'One-third of houses paying too much for car insurance'

Swiftcover has found that almost one-third of UK households with more than one car are paying over-the-odds for their car insurance.

New research has found that nearly one-third of all UK households with more than one car could be paying up to 60 per cent too much for their car insurance.

A study by Swiftcover, which compared the price of putting two popular cars on a multi-car policy with insuring them individually, has revealed that around three-in-ten British households use more than one vehicle.

However, most who believe they are gaining the rewards of a multi-car deal are actually paying up to double what they need to on their annual insurance.

According to the study and contrary to popular belief, these costs could be cut in many cases by switching to separate cover for each car.

The number of multi-car households in the UK has grown steadily throughout the last 30 years, with 2008 seeing 32 per cent of all homes utilising at least two cars.
Tina Shortle, marketing director at Swiftcover said: "People are being led to believe that insuring two or more cars on the same policy automatically gives drivers the best deal, but as our research shows, that's not the case."


By Emma North