Motor insurance myth shattered claims moneysupermarket.com
www.moneynews.co.uk > Insurance > Motor insurance myth shattered claims moneysupermarket.com
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Motor insurance myth shattered claims moneysupermarket.com
Tue 18th Aug 2009
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Third-party only insurance offers less cover than fully comprehensive and third-party, fire and theft, yet new research from the site shows that it works out as the most expensive.
Steve Sweeney, head of motor insurance at moneysupermarket.com, says motor insurance providers have pushed up the price because young people and other higher risk drivers tend to choose third-party only cover.
He said: "This research shatters several myths. Traditionally, motorists might assume a third-party only policy will be cheaper because of the reduced levels of cover."
Third-party only insurance will cover the cost of injury or damage that is caused to anybody else in an incident but it will not cover you.
In other motor news the government announced that their scrappage scheme had reached the halfway mark last week, with take-up of the initiative being most popular in the south-east of England.
Click here for more insurance news
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