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Auto renewing car insurance 'loses drivers £233'

By Tom Farley, Tue 24 Aug 2010 - Published in Car Insurance

The average motorist will waste more than £230 a year if they automatically renew their car insurance policy, new research has found.

A study published by price comparison website moneysupermarket.com found that automatically renewing car cover will cost drivers £233 more a year on average than they paid in 2009.

The report also noted that this is an increase of 40 per cent, or £92, on the extra costs of automatically renewing last year.

Steve Sweeney, head of car insurance at moneysupermarket.com, commented: "We've seen a massive jump in the savings now available to motorists who shop around for car insurance."

The research also revealed that 15 per cent of drivers will not shop around because they do not believe they will find a better deal, while another ten per cent admit that they cannot be bothered making the effort.

Last month, research published by consumer watchdog Which? found that 60 per cent of motorists who decided to look for a new policy rather than renew their cover saved an average of £58.