With the new registration coming out today, many people will be looking to renew their car insurance. Moneysupermarket says that 7.3 million drivers will renew with their current car insurer, without examining the variety of options available from other potential providers. This means that a staggering 22% of the UK’s drivers are not even trying to save, despite the abundance of car insurers looking for your business!

UK drivers are wasting an astonishing £1.3 billion; an average of £180 per policyholder. 14% of those choosing to automatically renew their car insurance simply do not believe they will find a better deal, whilst 8% just cannot be bothered! Comparison websites offer people any easy and quick way to check if they could save money on their car insurance; but blind loyalty and a certain amount of laziness is costing almost £200 per person.

Car insurance providers often offer introductory deals, which current policyholders are excluded from. If you shop around you will probably be pleasantly surprised at the prices offered by other providers, when compared against the premium quoted in that dreaded renewal letter from your current car insurer.

Steve Sweeney, head of car insurance at moneysuperket.com warns: “Rest assured if you can’t be bothered to shop around in the second year, the providers will be rubbing their hands with glee as a renewal price will often include a hefty premium… hardly the thanks deserved for being a loyal customer.”

Sound advice; when it comes to car insurance, review before you renew!

This entry was posted on Monday, March 1st, 2010 at 2:03 pm and is filed under Car Insurance, Money Saving Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.