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British Motorists Opting for Cheap Insurance to Save Money

It has been found that one in five British motorists have no choice but to opt for the lowest Car Insurance in order to reduce spending.

A poll by uSwitch revealed that six per cent of third-party insurance holders have reduced their policies from a fully comprehensive cover to third party insurance in order to save money.

The research also revealed that on an average a fully-comprehensive cover is 11 times costlier than other insurance policies offering less cover.

However, insurance expert of uSwitch, Mark Monteiro warned motorists that third-party insurance could be a sign of “a false economy”.

This is because in the event of an accident, you will have to pay all the cost for the repairs towards your car and the amount you have saved on your premiums would be wiped away.