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31/10/2007
More switching to get cheap car insurance
MoneyExpert.com has revealed that in the past six months a huge number of people have dumped their motor insurer in favour of a cheap car insurance policy from another provider.
According to statistics from the MoneyExpert Switching Index, around 15% of people have switched UK car insurance company since April 2007; a figure which is equivalent to 6.8 million motorists.
This indicates that there has been a rise of 2% in the number of people going elsewhere for their cheap car insurance in the last half a year.
A spokesperson for MoneyExpert.com said: "Insurance has been incredibly competitive for a long time now. Just turn on your television and you'll see scores of advertisements all claiming to get you the best deal.
"And with online price comparison becoming mainstream for millions of people, it's even more likely that people will be happy to chop and change providers in search of the best deal."
The increasing trend of switching to get cheap car insurance is also reflected in other financial sectors, such as credit cards, mobile phones, savings accounts and current accounts, according to the MoneyExpert.com Switching Index.
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