Motorists are ‘throwing money away’ through this mistake (Image: Getty)
Top Scotty Kilmer has warned motorists are “throwing money away” by making a little-known error at renewal.
The leading motoring expert suggested road users were losing cash by securing
Third-party liability cover is the in the UK but this coverage only pays out to the other individual involved in the crash.
Meanwhile, Comprehensive cover which could ease the financial blow in a hefty accident.
This may appear like the safer option, but Scotty stressed paying more could be unnecessary for those with cheaper second-hand vehicles that can be easily replaced.
Drivers may end up paying more than they need to for car insurance cover (Image: Getty)
, Scotty said: “Today I’m going to tell you why you might not want to buy full coverage insurance for your car.
“Just liability insurance costs 67% less, it’s a lot of money.
He added: “Now of course, if you buy a new car with payments or a used car with payments, you have to have full coverage.
“Because the people you’re paying want your money even if you wreck the car. But if you have the option, especially with lower priced used cars, you’re throwing your money away buying full coverage.”
DON’T MISS [COMMENT]
Motorists were quick to thank Scotty for his suggestion with many commenting on his YouTube clip soon after.
YouTube viewer @bashns7743 commented: “It doesn’t even matter if you’re a great driver. Your insurance will go up up up and away every renewal. Every time I ask they just give the good ole, “everything is going up right now.”
@TimRock1269 commented: “That’s exactly what I’ve done my whole life. My dad taught me that early on. If the car is more than you can afford to replace it, then you should have full coverage. Just do a higher deductible.”
However, others were less convinced with one individual admitting they had been caught out by following an almost identical tip in the past.
YouTube user @larryg7109 wrote: “My insurance agent told me the same exact thing. I took his advice. Within one month, my wife wrecked the car and it was her fault. We got nothing. Ugh.”
@kevinb.7491 remarked: “No you are not throwing your money away. I have full coverage on my excursion so if I’m in a wreck I can either get paid out or repairs.”