Industry News from Yes Insurance

A number of motorists in Britain are taking out the wrong car insurance policy, it has been claimed.

Drivers over the age of 35 who own a vehicle worth less than £3,000 are paying £500 to £700 on average for third party cover, when they could pay between £400 and £500 for a fully comprehensive deal, according to insurancewide.com.

The chief executive of the organisation, James Harrison, commented that a more thorough and specific policy can see Britons make savings.

"The type of cover you choose can a have a significant impact on the cost of your motor insurance and of your overall driving costs," the expert said.

"[People could pay less and be more protected with [a] fully comprehensive policy."

Meanwhile, recent research from Experian has highlighted characteristics in young drivers when it comes to buying a used car.

It claimed that they choose reliable models which may save them money on their car insurance.

© Adfero Ltd