The vehicle insurance mistake that may be costing you lb929 annually

BRITISH motorists might be putting themselves at a major disadvantage when applying for auto insurance.

According to some recent study, as many as three quarters of drivers are under the impression that third-party insurance is always the cheapest option.

But that's simply not the situation, meaning they could be missing out on less expensive comprehensive deals when searching for a new policy.

Data provided by uSwitch.com showed 72 percent of drivers only search for third-party cover – a mistake which could see them overpay by as much as lb929 annually.

In addition, a minumum of one in three of those searching for a new policy also neglect to search the entire market as they don't inquire about all policy types and could wind up paying higher premiums at a lower price cover.

In an offer to resolve this problem for drivers, uSwitch has introduced a new search function.

Motorists are now able to list all the kinds of cover available when searching for a new policy – even if they haven't specified comprehensive as an option.

It means they are able to easily compare all different conditions and terms against one another depending on their cost to prevent them passing up on the best offer.

Sabrina Webb, auto insurance expert at uSwitch.com, said: “Every year, drivers could be passing up on huge savings when they insure their cars, as three quarters mistakenly think that third-party cover is definitely cheaper than a fully comprehensive policy.

“To help motorists obtain the best deal on their own auto insurance, all customers searching for third-party cover who use our new online search function can begin to see the full range of possibilities.

"What this means is no one needs to overpay on their own car insurance."