Industry News from Yes Insurance

Motor insurance tips released today by moneysupermarket.com could reduce costs by an average of £800 a year, according to the company.

Car-sharing can help in "halving your mileage", the money expert states, but in informing insurers they use their car at weekends, customers could save £43.08.

And moneysupermarket.com also says increasing voluntary excess can save consumers £15.20 or £50.20 for young drivers, who can also pocket £43.45 by adding an older driver to their car insurance policy.

"While buying insurance is essential for financial security and all-round peace of mind, it is important that you only opt for a level of cover relevant to your needs and at the best available price," said Richard Mason, director of insurance at the price comparison organisation.

Recent research from swiftcover.com found that two thirds of 18 to 29- year-olds feel safer when using their car as opposed to public transport.

Young drivers looking for competitive car insurance may be interested to know there are many great deals available online.

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