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'New car owners advised to get insurance'

(26 Feb 2007)

Going on holiday? – Get a great deal on travel insurance

Consumers looking to be among the first to buy a '07' new car next month are being advised to make sure they have comprehensive motor insurance before leaving the showroom

According to American Express, vehicles less than a year old account for about one out of every 20 car thefts.

Marketing manager Joanne Field said: "Just like any other type of insurance, the small print of car insurance policies vary. It is worth taking a few moments to check exactly what your cover includes."

Meanwhile, new cars were also reported to suffer from a drop in value as soon as they are bought.

Within a year, the average car is reported to lose about £500 every month, with more expensive cars losing up to ten per cent.

The study also reported that comprehensive insurance cover can help owners get a replacement if their new vehicle is stolen or damaged beyond repair within 12 months.

Earlier American Express research advised tourists at European ski resorts to make sure they have sufficient travel insurance cover as poor conditions lead skiers and snowboarders to head off piste in the search of snow.

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