A bike insurance company has revealed that in an attempt to save money during the downturn, an increasing number of motorists are switching from four wheels to two.

The firm has seen a 20% increase in quotes for mopeds in the last six months, as the UK tightens its purse strings and opts for a cheaper way to get around.

It is thought that mopeds have become the popular choice of money saving transport due to cheaper road tax, free parking and cheaper fuel consumption.

The insurer revealed what the top five most popular mopeds were: 1. Peugeot Speedfight 2. Vespa-Piaggio Zip 50 3. Gilera Runner 4. Yamaha YQ 50 Aerox 5. Boatian BT50QT-9.

Anthony Aronin, head of insurance at the group stated: "Mopeds are particularly popular with city dwellers and commuters. They provide an alternative to sitting bumper to bumper in rush hour traffic every day and are a cheaper solution in terms for motorists as the recession continues.

"London's congestion charge and the popularity of mopeds with celebrities such as Jamie Oliver and guitar legend Pete Townshend, who was seen last week riding his bright red vespa, won't be harming sales either," he commented.