UK motorists warned against 'high-stakes gamble' to save money while driving

New research has shown that a surprisingly large percentage of Brit drivers are 'betting against crashing' — taking dangerous risks in an effort to curb their car-running costs.

Some are even choosing the most basic form of insurance and neglecting essential vehicle servicing and maintenance checks. These cost-saving decisions, while offering short-term relief, leave drivers exposed to significant sanctions in the event of an accident.

The situation represents a false economy — where savings today result in damaging financial shocks tomorrow. The study, commissioned by Tempcover and involving a sample of more than 2,000 drivers, highlighted that cost is consistently prioritised in nearly every car-related decision.

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For example, securing a good price (40 per cent) and low running and repair costs (31 per cent) ranked among the top five most important factors when buying a car.

However, this financial caution has bred a culture of gambling with potential long-term risks. Choosing third-party insurance provides no protection for a driver's own vehicle, while neglecting upkeep heightens the chances of accidents and invalidating insurance claims.

The research suggests that Gen Z motorists are far more likely than older generations to adopt risky money-saving habits. An alarming 74 per cent admitted to engaging in unsafe money-saving methods.

These include parking in unprotected areas to avoid fees (28 per cent) and removing dashboard warning lights (11 per cent) to put off costly repairs. Their priorities when purchasing vehicles further underscore the issue — 42 per cent ranked getting a good price higher than securing a safe and reliable car.

A further 28 per cent chose the cheapest insurance option — this is in comparison with only eight per cent of Generation X and two per cent of Baby Boomers.

Jake Lambert, temporary car insurance expert at Tempcover, warned: "While it's understandable that drivers are looking to cut costs, it's vital that they have a clear knowledge of what they are and aren't covered for. Avoiding vehicle checks and failing to maintain your car can invalidate your insurance."

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Of Gen Z drivers listed as named drivers on another person's policy, 69 per cent admitted they didn't know what level of cover they held, while 77 per cent couldn't even identify their insurance provider. Such a lack of awareness not only places them in a vulnerable position, but also the main policyholder.

Jake explained: “Third party insurance may appear to be a quick fix for reducing monthly costs, but it's a higher-stakes gamble. If a driver causes an accident, they'll be left to pay for their own repairs or replacement vehicle entirely out of their own pocket, potentially leaving them with bills running into the thousands or forcing them off the road altogether.”

He added: “Named drivers, who often borrow cars from family and friends, are also at risk of inadvertently impacting the main policyholder's no-claims bonus in the event of a crash, even if they believed they were fully covered. To mitigate risks, a temporary insurance policy protects the owner’s no-claims bonus and provides fully comprehensive cover from as little as one hour up to 28 days.”

So no matter how hard it is on your wallet, it's a good idea to avoid cutting corners when it comes to car safety — it could end up costing much more than money.

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