UK drivers paying over the odds for multi-car insurance Easier (press release)
Nearly a third of UK households with more than one car could be paying as much as 60% over the odds for their motor insurance, new figures reveal.
Three out of ten households* in the UK now have more than one car (rising to almost one in two homes in rural areas), yet drivers who opt for so-called multi-car insurance policies and think they are saving money may actually be paying too much and could cut costs by taking out separate cover for each vehicle.
The number of multi-car households has been growing steadily over the past 30 years. In 2008, 32% of households had access to two or more cars, compared to only 15% in 1980 and 23% in 1990. Households in rural areas are particularly likely to have access to two or more cars: in 2008, the figure was at 47%, compared to 17% in London boroughs.
Research by swiftcover.com compared the price of putting two popular cars on a multi-car policy with the cost of insuring them separately. The insurance company found that multi-car policy users could be paying twice as much as they would for individual insurance cover.
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