Car Insurance: Did You Get The Best Deal?
It’s time to renew your car insurance policy again. You’ve had no problems with your insurer, you’re busy and as far as you know the deal you’ve got is fair. So, you decide to save yourself the hassle of shopping around and automatically renew your policy for another year. Sound familiar? If your answer is yes then, like 8.6 million other UK policyholders, you may be wasting up to £220 on your car insurance every year!
According to moneysupermarket.com, 2.4 million UK policy holders do not compare car insurance quotes when their policy is due to expire. These motorists are losing out on a whopping £1.9 billion of potential savings.
Male Londoners, over the age of 55, are the most likely to be overspending on their car insurance by preferring to renew their policies with their existing providers. Females under 55 years old and from the East Midlands are the savviest in choosing to shop around to find the cheapest premiums.
Did you choose to renew your policy when your car insurance was last due? Or, did you shop around and switch providers? Tell us your answers in the comments below.