Apparently, research by the price comparison website GoCompare has revealed that it may be that almost five million motorists are automatically renewing their motor insurance policy every year. We are sure that drivers will agree this is a very high figure.
For quite some time, insurance companies providing car insurance write to customers a few weeks before a policy is due to expire to inform the customer what their new premium will be for the coming 12 months and that, if the premium is acceptable, the policyholder has nothing to do. If the insurance company does not hear from the customer the policy will automatically be renewed for another year and the insurer will continue to take premiums from the customer’s bank account by direct debit.
There are no doubt many motorists who just cannot be bothered to start shopping around to see if he or she can get the cover cheaper elsewhere. It is possibly just too easy to file the renewal notice without taking any action.
Yet, it really does not take too long to do some research into the cost of car insurance that is being offered by other providers. You could do this in a number of ways such as going on the Internet and using the services of a number of price comparison websites who have access to dozens of insurance companies providing car insurance here in the UK. It is so quick and simple to obtain quotes in this way. Another option is to pop into your local high street insurance broker and check if he or she has an extensive panel of insurers at his or her disposal and, if so, ask them to get you some quotes.
Apparently, it is estimated that an average of about £268 per annum could be saved when a motorist shops around for their car insurance. That is a large sum of money and better in the pocket of the motorist than an insurance company.
On a personal basis, the writer of this article has recently renewed the car insurance on two vehicles. On one car the premium had been £52 per month but the same cover has been found elsewhere with another insurance company for £34 per month – a saving of £18 per month. On the other car, the premium had been £55 per month but with the new provider it was £38 per month – a saving of £17 per month and we were able to add a learner driver to the second policy so if we had not done that there would have been an even bigger saving.
So, when your policy is due for renewal why not shop around to see if you can obtain the cover at a lower premium. In that respect, why not get a quote through My Cheap Car Insurance. We look forward to being of assistance to you.