Unless you have been one of the lucky policyholders, when you received your motor insurance renewal notice it is quite possible that you have seen a rise in the cost of providing you with the cover for another 12 months. There are no doubt a number of reasons why this could have happened.
For instance, it could be that you have been involved in a road traffic accident in recent months and have claimed on your policy. You may have been caught speeding, got points on your license and paid a fine.
It is also being reported that as more and more people are using price comparison websites to obtain one or more quotes for car insurance that this could result in premiums going up. This is because some car insurance companies may be less inclined to offer attractive introductory deals to bring in new business as it is quite possible that when those customers come to review their car insurance in a year’s time they are quite likely to move their business elsewhere if they can get the same level of adequate cover but for a cheaper premium.
There does not seem a lot that the motorist can realistically do about this. After all, surely you cannot expect the motorist to stop shopping around at renewal to see if he or she can get cheaper cover elsewhere. In fact, surely the policyholder should be encouraged to try to get a better deal elsewhere. Price comparison websites are not the only place that people use to source quotes for motor insurance. Many still use high street brokers, their bank, the Post Office or speak to individual insurance companies direct.
It will be interesting to see what happens to car insurance premiums over the next few months as many motorists have had to bear quite significant rises in their premiums of late.