Wed, 08 Mar 2006

Car sharing could help to lower the cost of driving and improve Motor Insurance prospects.

Halifax Car Insurance estimated that more than ten million cars on UK roads every weekday morning do not carry any passengers, not only resulting in congestion but also adding to motoring costs.

The average cost of travelling to work alone stands at £1017 per year, however sharing that cost with a fellow colleague could result in substantial savings and could help to offset Motor Insurance premiums.

Mike Pickard, head of Risk & underwriting at Halifax Car Insurance, said: "Passengers in the car not only improve your environmental credentials, they can also act as an extra pair of eyes for you, especially in the morning rush hour when traffic is at its heaviest."

He added: "Insurance wise, you can carry passengers in return for a mileage payment as long as there is no element of profit."

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