Does Dad know best when it comes to cheap car insurance?

When it comes to choosing the best car insurance deal for you, it might be best not to ask Dad, according to a recently released survey.

The poll by goodwithmoney.com shows that one in three young people turn to their father for financial assistance and investment advice, while only a quarter go to their mother first. But it also showed that 33% of people have lost out because of recommendations made by their father.

Some claimed to have lost money on stocks and shares due to Dad's advice, while others suffered in the property market by doing what they were told. Yet more confess to losing money on a betting tip that was too good to miss, and one son even admitted that he made a motor insurance selection by following his father's advice and picking the company with the biggest advert in the Yellow Pages.

David Newman from goodwithmoney.com said, "We all like to keep it in the family but it is clear that Dad is not necessarily good with money.

"I suppose it is a bit like Bart asking Homer Simpson. It might seem like a good idea but it will more than likely end up costing money."

A spokesman for Hoot Car Insurance Services, specialists in providing young driver car insurance, said, "We often think that Dad knows best, but it really does pay to shop around if you're searching for cheap car insurance.

"And as for picking the company with the biggest advert, I wouldn't recommend it. You're far more likely to get a better deal online."

webmaster@hootcarinsurance.co.uk

*A replacement car can usually be arranged under any of the following conditions:

1.Non fault accident – where we have the name, car registration number and insurance details of the person who caused the accident, we will supply a replacement car on a credit hire basis. This means the charges for this service will be passed onto the insurance company of the person who was responsible for the accident. This service may not be available where we are unable to get an admission of liability from their insurance company, or wherethe driver is unknown or uninsured.

2.If you have comprehensive insurance, a replacement car may be available under the terms of your insurance policy. Please check your policy details for more information.

3.The repairing garage may be able to provide a replacement car. This is subject to availability.

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