Vehicle sharing pushed by car insurance company

Wed, 08 Mar 2006

A leading car insurance firm has highlighted the benefits of car sharing.

According to Halifax Car Insurance, the ten million cars travelling on UK roads every weekday morning have more than 38 million empty seats between them.

This means that only a fifth of motorists currently share cars, despite the fact that more than two-thirds of them say it is a good idea to do so.

Drivers travelling solo to work are spending an average £1,017 a year on their commute. The insurance company says this cost could not only be halved by sharing, but could also benefit the environment while reducing congestion.

"More and more people are driving to work every day and with an increasing number of vehicles on the roads causing jams, as well as increasing petrol and parking costs, it can be a stressful journey," comments the head of risk and underwriting at Halifax Car Insurance, Mike Pickard.

He says car sharing has benefits for the environment as well as for the driver, as an extra pair of eyes could help in heavy rush hour traffic.

Mr Pickard says car sharing could also impact on car insurance.

He explains: "Insurance wise, you can carry passengers in return for a mileage payment as long as there is no element of profit."

The Halifax Car Insurance survey reveals that those aged between 18 and 24 are most likely to share cars, while those between the ages of 55 and 64 are most reluctant to do so.

This reluctance is mostly down to older motorists no longer having an issue with saving money, the car insurance company states.

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