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Couples 'missing out' on car insurance savings

Car Insurance News - Published: 26/02/2008
Couples 'missing out' on car insurance savings
Married couples and those who live together could be saving money on their car insurance premiums by switching policies.

That is the message from a comparison site which says that there are benefits to married life beyond marital bliss.

According to TescoCompare.com's research, couples could make savings to the tune of £100 simply by adding their partner as an additional driver to their policy.

However, two-thirds of those asked admitted they did not inform their insurer when they move in together, while half wait until their policy is up for renewal before flagging it up – potentially losing the savings they could have made in the interim.

Paul Baxter at Tesco Compare.com commented: "Many people believe that adding their partner to their existing car insurance policy will immediately increase their premium, but in reality this is not the case.

"Car insurers assess the individual risk profile of each customer and couples living together typically carry a lower risk, resulting in lower premiums."

There are a number of other ways to reduce premiums on car insurance, such as buying a smaller car or opting for more secure parking.
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