Motorists 'buying smaller to cut car insurance costs'
Personal insurance
14th September 2009
Consumers purchasing their first cars are electing to buy smaller models now than in the past in order to keep car insurance premiums down, new research has suggested.
Price comparison site Confused.com found that 75 per cent of new motorists get a vehicle with a 1.4-litre engine or smaller, while 20 per cent buy cars with a 1.2-litre engine.
In addition, the ten most popular automobiles for this demographic are all diminutive hatchbacks, with the Vauxhall Corsa number one, accounting for 13.7 per cent of the market.
"The choice of vehicle for new drivers suggests awareness that smaller, less powerful cars represent a smaller risk when it comes to insurance, which is especially pertinent for new drivers," Confused.com said.
Will Thomas, the company's head of motor insurance, added that another way to keep insurance costs low is to build up a no claims bonus.
A survey by moneysupermarket.com found recently that the average person in the UK is loyal to their car insurance provider for around 2.7 years.
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