Tesco Finance View Co-Habitation As Best For Car Insurance Savings
Published: 03/03/08
Research carried out by Tesco Finance has come to the conclusion that those living together can save money on car insurance. The average saving for a couple using a joint policy is over GBP100.
The savings come about when a co-habiting driver is added to the insurance policy, since this scenario is seen as a lower risk by the insurer. A Tesco Finance spokesman explained that the general view held by drivers, that adding a driver will increase premiums, is not true. He made it clear that, generally speaking, adding a driver to a policy that lives with the main driver is likely to reduce the premium.
The hope now is that those who live together will take steps to arrange their car insurance accordingly, using Tesco Finance or their existing provider. If a couple can save money on car insurance by doing this it gives them more money in their budget, which can only help.