Car owners switch to bikes to save money, says the Post Office

Tue, 19 May 2009

Car insurance policy holders are trading in their four wheels for two in order to make ends meet during the recession, according to new research by the Post Office .

Out of those thinking of moving to a motorcycle, 31 per cent believe greater fuel efficiency will help them save money, while 27 per cent think it will just be easier to get around.

According to the most recent Motorcycle Industry Association Guide, there was a year-on-year increase in motorcycle registrations in 2008, while the car industry is still facing a decline.

In order to save even more cash with the switch to a motorcycle, the Post Office has advised road users to shop around for the best bike insurance deals.

Richard Pennant-Jones, head of general insurance at the Post Office, said that the switch "can help reduce day-to-day transport and running costs, including insurance which could be significantly cheaper for motorcycles and mopeds than cars".

Price comparison service comparethemarket.com recently announced a new facility on its site for comparing motor insurance packages for motorcycle owners .
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