Brits change cars more than insurance

Thursday, 02 July 2009 12:01

Britons change their car more often than their insurance, according to a survey.

Calculations by Tescocompare.com have shown drivers own an average of nine cars each over their lifetime but tend to stick with the same insurer year after year.

According to the financial search engine, 15 per cent of motorists have been with the same insurance provider for over five years, despite 18 per cent saying they regularly change the car they drive.

Debra Williams from Tescocompare.com, said: "People tend to stick to what they know and consequently could be paying over the odds on their annual premiums.

"Even when the make and model of the car doesn't change from year to year, driving experience, age and personal circumstances do, all of which could have an impact on the cost of car insurance."

While nine cars is the average, 19 per cent of motorists - one million drivers - own 20 or more cars over their driving career, whereas for 5.5 million drivers, just one car throughout their driving lifetime is enough.

But the impact of the credit crunch is changing our car-buying habits - 29 per cent of motorists say the current climate has made them less likely to change their car in the next 12 months, while 23 per cent are considering the sale of one of their cars to cut costs.

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