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Drivers spending up to £929 more on less cover

Those searching for third party cover could miss out on cheaper comprehensive policies


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Which type of policy offers the best value for you? Compare all cover types in one simple search with uSwitch

New uSwitch research has revealed that drivers could be missing out on cheaper comprehensive insurance deals by searching for only third party policies.

Nearly three quarters of drivers (72%) believe third party policies are always cheaper than fully comprehensive cover, when this is often not the case.

More cover for less cash

Third party insurance is the minimum level of cover needed to drive legally in the UK. In the case of an accident it covers the cost of damage to other vehicles and property, but not damage to your own car. Third party, fire and theft policies are similar but also cover losses in the case of a fire or theft. Comprehensive cover includes the same features as third party, but will also pay out for damage to your car — regardless of who is at fault.

Due to the extra features of comprehensive policies, it seems logical that this would be the most expensive cover type. However, uSwitch found that the average price for third party only cover is £929 higher than the average comprehensive policy — meaning drivers could get more cover for less.

Young drivers could save even more

More than a third (37%) of drivers who search for a cheap third party policy do not search for other cover levels, despite the possibility they could cost less.

Young drivers are more prone to this mistake, with those aged 17-24 nearly five times more likely to search for just third party cover when compared to over-55s. But they stand to save the most, with the average comprehensive quote for this age group £1,306 cheaper than third party cover.

Older drivers (aged 55+) could cut their premiums almost in half by widening their search to include comprehensive cover, with third party policies for this age group costing £485 more on average.

Search all cover types at once

To ensure drivers don’t lose out by assuming third party policies are always cheaper, uSwitch has created a new solution. Drivers searching for car insurance with uSwitch now have the option to search for all cover types at once, meaning they’ll see quotes in order of the cheapest price irrespective of policy type.

So far, more than half (54%) of drivers using the new search function have found a cheaper policy, saving an average of £860 compared to if they had limited their search to third party policies.

Sabrina Webb, car insurance expert at uSwitch, said: “Every year, drivers could be missing out on huge savings when they insure their cars, as three quarters mistakenly believe that third party cover is always cheaper than a fully comprehensive policy.

“To help motorists get the best deal on their car insurance, all customers looking for third party cover who use our new online search function will be able to see the full range of options available. This means no one needs to overpay on their car insurance.”

Compare car insurance quotes

Which type of policy offers the best value for you? Compare all cover types in one simple search with uSwitch