Motor insurance 'can be cost-effective'

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Motor insurance 'can be cost-effective'

Taking out an insurance product for a vehicle can be cost-effective and still represent good value for money, an expert has claimed.

Robert Gifford, chair of the Parliamentary Advisory Council for Transport Safety (PACTS), said that people rarely like to take out insurance as it is assumed that what they are insuring themselves against will never happen.

However, there are a number of variations within insurance policies which, Mr Gifford suggested, could appeal to a number of different people.

"The question will always be whether the driver thinks it is worth that much money in the first place," he said.

Mr Gifford added though that it is "certainly possible to get cost-effective and good value insurance" from a provider.

Since June 2011, it has been compulsory for all drivers to take out vehicle insurance or to register their vehicles as being unused. The AA revealed earlier this month that 93 per cent of drivers were actually unaware as to whether their motors were correctly covered.

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