UK drivers could be paying too much for multi-car insurance

UK households with more than one car could be paying as much as 29 per cent over the odds for their motor insurance by purchasing multi-car policies, research by online insurer swiftcover.com has found.

With a third (32 per cent) of UK households owning more than one car, drivers who opt for multi-car policies may find that they are able to save money by insuring vehicles on separate policies.

Sarah Vaughan, motor director at swiftcover.com, commented: "It's easy to assume that multi-car discounts must offer the best value, but it's clearly not the case for everyone. It may be slightly easier but is it really worth paying hundreds of pounds over the odds? These figures show that no matter what discounts are offered it is best to shop around.

"Insurance comparison sites don't take multi-car discounts into account, so it's tricky to compare quotes effectively and work out the best deal. Of course, in some cases, a multi-car discount may be the cheapest option, but policy holders should always shop around to make sure they get the best value, as our research shows that quotes can vary wildly between insurers."