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Daily Insurance Industry News
Saturday 24th of June 2017
April 22, 2010

Multi-car insurance not necessarily cheaper

by Richard Kilner

Story link: Multi-car insurance not necessarily cheaper

New research has revealed that UK households with multiple cars could be paying as much as 60% more than they should for car insurance.

The figures indicate that the three out of ten households in the UK with more than one car may be paying more for multi-car insurance policies than they would if they opted for single car cover for each vehicle.

The proportion of multiple car households have increased steadily, from just 15% in 1980 to 32% in 2008, with higher numbers in rural areas.

A comparison by swiftcover.com between two popular cars on a multi-car policy and two single car policies found that households could end up paying double for a multi-car policy what they would for single car coverage.

The insurer’s marketing director, Tina Shortle, has warned against the intuitive idea that a multi-car policy is necessarily less expensive than multiple single car policies.

 

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