Car insurance could be cheaper with a higher excess, expert says

Wed, 08 Aug 2007

Motorists could save money on their car insurance premiums if they choose a higher excess, an expert in the financial services industry states.

Research by uSwitch.com has shown that UK drivers pay £8.5 billion a year on car insurance, with 12.6 million motorists opting for a voluntary excess paying an average of £247 to make a claim.

Head of insurance at uSwitch.com Aron Thompson comments that having a higher excess may not be the best car insurance option for some drivers, but it could be of benefit to others.

"For some drivers, particularly those with less experience, a higher voluntary excess on their insurance policy can reduce their insurance premium by up to 40 per cent or by up to £128 a year," he remarks.

Drivers aged 17 to 21 often have a higher excess on their car insurance than others with 20 per cent paying an excess of over £379 compared to five per cent of average UK motorists.

Mr Thompson advises consumers to shop around to get the best deals.

Free and impartial, uSwitch.com is an online and phone-based comparison and switching service.

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