Motor Myth Busted Fully Comp Cheape... Emediawire (press release)
Young motorists pay much more for third party only car insurance cover. Renewals season is underway so shop around for the best value car insurance policy.
Chester, UK (PRWeb UK) August 21, 2009 -- Young motorists opting for third-party only motor insurance in a bid to save money may find that this is no longer the way to cut the cost of their premiums, according to moneysupermarket.com.
The UK's leading price comparison site analysed the average cost of annual motor insurance policies for male and female motorists across the age-scale. The research reveals, despite offering the lowest level of cover, third-party only is the most expensive option for motorists, especially younger drivers, followed by third party, fire and theft. Fully comprehensive policies offer the most level of cover yet the lowest premiums*.
The research found on average third-party only cover for a driver under the age of 21 is £1,434 and 50 per cent more expensive than opting for fully comprehensive insurance at £955 (see table below for what is included in third-party only, third party, fire and theft and fully comprehensive cover). The average premium for third-party fire and theft costs £1,118 and 17 per cent over the cost of fully comprehensive cover.
Which4U - UKNigel Bartram, motoring strategist at Aviva added, “Young drivers remain the age group with the highest proportion of insurance claims, accidents and One in Five Drivers Admit to Car Insurance FraudA fifth of drivers admit car insurance fraudall 41 news articles »
