UK motorists cost-cutting on car insurance

06 June 2008

Survey finds 50% of drivers prioritise price over cover

Millions of Britons are choosing the cheapest car insurance in attempts to reduce their motoring costs because of rising fuel prices.

A recent survey by Fair Investment found that more than 50% of drivers considered cost to be the most important factor when shopping for car insurance. In contrast, 20% made the level of cover their number one priority.

This evidence further supports the increase in cost-cutting during the recent credit crisis. Just last month, a separate survey found that around five million homeowners in the UK do not have home contents insurance.

“Motorists should be careful choosing their car insurance by price alone,” said James Caldwell of Fair Investment.

“The cheapest car insurance is not always the best and there are other aspects to be taken into consideration.

“I would advise anybody shopping for car insurance to compare deals not just on price but also policy features, some of which may be outlined in the small print,” he added.

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