Motorists 'being forced to choose lower-cost car insurance'

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Motorists 'being forced to choose lower-cost car insurance'

One in five British motorists feel that they have to opt for the cheapest car insurance they need in order to cut down on their spending, it has been discovered.

A poll undertaken by uSwitch.com found that six per cent of third-party insurance holders have downgraded their policies from fully comprehensive cover in recent months in a bid to save money.

Furthermore, the research also found that fully-comprehensive cover is on average, 11 times more expensive that other insurance policies offering less protection.

Mark Monteiro, insurance expert for uSwitch.com, warned motorists that third-party cover could be "a false economy".

He added that this is because "in the event of an accident […] a motorist is in danger of having the amount saved on the premium completely wiped out by the cost of any repairs to their vehicle".

Meanwhile, a study conducted by Sainsbury's Finance this week revealed that 4.5 million Britons plan to purchase a second-hand car over the next few months.

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