New research from LV=, the UK’s third largest car insurer, shows that an increased demand for driving is behind a surge in two-car families. With official figures showing a growth of 541,600 two-car households year-on-year, nearly a quarter (24%) of drivers revealed to LV= that they are doing more driving than they were 12 months ago. Two-car families now outweigh two-child families by nearly two million.
Work requirements are the main reason, with two in five (40%) clocking up the miles thanks to a longer commute and nearly a third (30%) spending more time on the road for work purposes. It’s also the top reason for people to purchase a second car (37%).
The research also reveals that second cars have become an increasingly important part of modern family life. Family journeys are the second most popular reason for purchasing a second car (30%), and nearly a quarter (24%) of people say taking children to and from new hobbies has driven up this year’s mileage. Around one in seven (15%) also regularly use it for the school run.
On average, second cars run around 844 miles per month with more than half (51%) helping out with the weekly shop and more than a quarter (26%) doing the daily commute. The second-car economy is now worth £25.7 billion (US$36.3 billion) through buying, maintaining and insuring these vehicles.