March is a very busy month for car insurance renewals so it is a good opportunity to look at what your renewal premium is going to be and then start shopping around to see if you can get a better deal. Interestingly, around a third of motorists, that equates to about 8.7 million policyholders, don’t even bother to look for a cheaper deal.
Classic car
You would have thought, with the spiralling cost of petrol prices seen on the forecourts that any way you could reduce your motoring costs would be snapped up. Alas, it would appear not. So many people seem to just file their renewal notice in their car insurance folder and forget about it for another 12 months.
Gocompare.com that is a price comparison website believe that drivers who don’t bother to shop around could be missing the opportunity to save about £2.5 billion which equates to almost £300 per motorist. Interestingly, about 3 million motorists have remained with the same car insurer for at least 10 years and a staggering 11.6 million keep with the same insurance company for a minimum of 3 years.
Scott Kelly, who is the head of motor services at Gocompare.com, commented: “Drivers who allow their policies to auto-renew and expect to get the best deal are kidding themselves.
“Renewal documents often start by explaining that you don’t need to do anything for your cover to continue. Unfortunately they don’t explain that doing nothing is the worst thing to do if you want to be sure you’re getting the most competitive premium and still have the cover you need.”
It is so easy to shop around to see if you can save any money on your car insurance premiums. One of the quickest ways is to go on the Internet and use one of the car insurance price comparison websites. You will only need to key your details in once to be able to get numerous quotes but just remember that cheapest is not always the best. You should always make sure that you are comparing like with like and that the cover will meet your requirements.
