Auto insurance 'should not see cutbacks'
The British Insurance Brokers' Association has warned of the false economy of cutting back motor cover during the recession.
A car insurance organisation has warned motorists not to make cuts to motor cover spending during the recession.Recent statistics from Directgov show that 6.5 per cent of British motorists are driving without auto insurance and Steve Foulsham, technical services manager at the British Insurance Brokers' Association, said that it is not the right time for this kind of behaviour.
While he admitted that money may currently be tight for drivers, reducing or getting rid of auto insurance is a false economy as an accident could result in even higher, unaffordable repair costs.
Mr Foulsham said: "If you subsequently have a problem when you come to claim, then it can be even more of a problem at that time than at the time when you purchased the insurance."
Those looking for cheap auto insurance may be interested in recent research by financial website Tescocompare.com, which found that drivers could take advantage of the savings which could be made through switching provider.
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