Clearing garages ‘could offer debt management solution’
Clearing space in garages could provide a debt management solution by reducing car insurance premiums, it has been advised.
Graeme Trudgill, technical services manager at the British Insurance Brokers’ Association, suggests that storing a vehicle securely could see many Britons obtain a reduction on their policy costs.
Meanwhile, parking in a driveway - rather than on the road - could be a similar means of debt management for motorists without garages, he adds.
“Every insurer does have a different view on to what extent they should discount their premiums,” Mr Trudgill claims.
“But, of course, the theft and vandalism factor is so much less if it is kept in a garage that most insurers recognise that.”
In light of this, he says, homeowners should throw away the “paint pots and mattresses” currently taking up room in their garages.
Expert advice could identify any potential debt management solution for Britons facing financial hardship.
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