Those with more than one car per household are more likely to find cheaper car insurance, it has been revealed.

According to Insurer, Admiral, opting for a multicar policy provides households with more than one car a cheaper deal.

During the current downturn of the UK economy, more young people have been found to be living with their parents as people struggle to get a mortgage, resulting in UK households holding as many say four or five cars.

The multicar policy provides cover for all the family’s vehicles. According to Admiral, buying the multicar policy under one policy could save up to 23 per cent on the buyer’s premiums.

Managing director Sue Longthorn of the insurer believes the deal to be “very convenient” for those with more than one car per household.

She said: "There is just one renewal date and you only have to deal with one company."

Meanwhile, the Association of British Insurers recently revealed that there has been an increase in the number of Brits providing false details on their insurance application forms as a bid to get cheaper insurance.

Car insurance customers have been warned that those lying or failing to provide accurate and relevant details are more likely to get their claims rejected.