Couples stand to gain lower car insurance premiums

by Richard Kilner

Story link: Couples stand to gain lower car insurance premiums

With car insurance premiums rising, TescoCompare.com has revealed that couples could make a saving should they take out a joint insurance policy.

The comparison site has discovered that 65% of couples are paying over the odds because their provider is unaware that they are living together.

Savings can top £100, if one half of the couple is added to the other’s policy as an additional driver.

When first taking out a policy just under half of couples fail to inform their insurer that they are living together but do so when the time for renewal arrives.

However, 17% of couples never tell their insurer.

The reasoning behind the lower premiums is that couples living together are seen as a lower risk.

Individuals (or couples) whose situation has significantly altered since initially taking out their insurance are advised by TescoCompare.com to browse the market to make certain that they are getting the best deal to suit their particular needs.

Lower premiums can be achieved through a variety of methods (cohabiting aside), including using a smaller car with a smaller engine and securing the car overnight.