Drivers Can Save Hundreds by Adding Partner to Insurance
Motorists across the UK have been presented with a significant opportunity to reduce their annual expenses, as new data indicates that adding a spouse or partner to a car insurance policy can lead to substantial savings. According to the latest findings from Confused.com, drivers could save an average of £315 per year by making this simple adjustment to their coverage.
How Adding a Driver Reduces Insurance Costs
Car insurance premiums are primarily calculated based on the perceived risk of filing a claim. By including an additional driver, such as a partner or family member, the overall risk is distributed between multiple individuals. This risk-sharing mechanism often results in lower costs for the policyholder. The data from Confused.com's price index further supports this, showing that adding any extra driver can save an average of £117 annually.
However, it is crucial to note that the savings may vary depending on the additional driver's history. If the extra driver has previous claims, driving convictions, or limited experience, the potential savings could be reduced or even eliminated entirely.
Expert Insights and Consumer Trends
Matt Crole-Rees, a motoring expert at Confused.com, emphasized the benefits of this approach. "When it comes to car insurance, many drivers are keen to keep costs as low as possible," he stated. "Adding your partner to your insurance is an effective way to achieve that, saving drivers an average of £315 on their premiums."
The research also uncovered interesting trends among couples. Approximately 89% of couples have already added their partner to their car insurance. Additionally, 68% of men reported that they do the majority of the driving, with 11% believing they are better drivers than their partners.
Additional Benefits and Important Considerations
Beyond the financial savings, adding a partner to your insurance policy offers practical advantages. "The shared responsibility that comes with joint insurance is helpful for longer trips or emergencies," Crole-Rees explained. "You and your partner can share the driving duties fairly and legally."
Accuracy is paramount when updating insurance details. Providing incorrect information about the additional driver could invalidate the policy, leaving both parties unprotected. Crole-Rees advised, "It's important to be accurate when adding your partner to your insurance."
Alternative Strategies for Reducing Car Costs
For those unable to add a partner to their policy, there are still numerous ways to lower car-related expenses. Crole-Rees highlighted several effective methods:
- Shopping around for insurance quotes well in advance of renewal can save hundreds of pounds.
- Enhancing your vehicle's security features may lead to lower premiums.
- Ensuring your reported mileage is accurate can prevent overpayment.
Confused.com has compiled a list of 16 strategies to save on car insurance. While not all may be applicable to every driver, implementing even a few changes can make a noticeable difference, especially as insurance costs continue to rise.
