Motor insurance news
09/09/2011
Car ownership costs could be reduced
The price comparison website, Moneysupermarket.com, has revealed that many drivers are failing to secure the cheapest car insurance deals when it comes to policy renewal time.
A reported 2.56 million drivers have automatically chosen to stay with the same insurers, rather than scour the market to see whether less expensive offers are available.
Apparently the average driver could save themselves £333 per year, just by switching to an alternative cheap car insurance company.
A spokesperson for Moneysupermarket.com said, "It is shocking many motorists are not using this opportunity to protect their hard earned cash by finding the best car insurance deal for their needs."
Reportedly, motorists older than 55 are particularly unlikely to conduct a search when their policies are nearing expiry. However, drivers aged between 18 and 34 are apparently less loyal to motor insurance companies.
The motoring expert went on to say that "providers rely on driver apathy at renewal time; loyalty isn't rewarded with a cheaper premium and drivers should do their homework to check whether they can find a better deal elsewhere."
In related news, the UK's drivers were recently informed that they could keep their outgoings at a manageable level by choosing to pay for car insurance in regular instalments.