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Drivers 'losing out' by auto-renewing car insurance

By Tom Farley, Wed 25 Aug 2010 - Published in Car Insurance

The nation's motorists are potentially losing out by renewing their car insurance automatically, a new report has suggested.

Figures compiled by moneysupermarket.com suggest that many people simply accept the renewal quote offered by their car insurance provider without first comparing the cost of cover online to see if they could make a saving.

The adapt shows that motorists are wasting an average of £233.81 a year - an increase of £92 on 2009.

Steve Sweeney, moneysupermarket.com's head of car insurance, said people should be proactive to get the best deals: "It is alarming that so many motorists are prepared to waste their hard-earned cash, especially when this money could come in useful elsewhere."

It comes after a poll carried out by M&S Car Insurance discovered that 56 per cent of British motorists have been the victim of car crime in the past, with smashed windscreens, scrapes and theft being the top causes.