According to the Compare the Market Premium Drivers report of June 2021, it indicates that young motorists may potentially be able to make quite a saving in their car insurance premiums by shopping around for their cover when their existing cover is due to be renewed. We are sure that younger drivers will agree this is good news potentially.
Apparently, the average amount paid by motorists who are less than 25 years of age for their car insurance has fallen from £1,155 per annum in the second quarter of 2020 to £1,093 per annum in the second quarter of 2021 – that is a drop of £62 per annum. That is pleasing to hear but the above comparison website also found that a young driver could save as much as £191 per annum by moving their motor insurance to another insurer when their existing policy is due to be renewed. That is a very large potential saving and one that would be welcomed by young drivers who, on average, pay more to insure their cars than older, experienced drivers here in the UK.
The above report also reveals that drivers across all age brackets could save an average of £92 per annum by moving to another provider when their existing cover is due for renewal. That is a reasonable potential saving.
However, not everybody bothers to shop around when his or her existing car insurance is due to be renewed. A significant number of people merely accept that their existing cover is going to increase for another year. This is unfortunate as it does not take long to check what some other insurers will charge for insuring your car. Using the likes of a price comparison website is quick and simple.
If your existing cover is shortly due for renewal or you are a young driver looking to insure your first car why not get in touch with us today with a view to obtaining a competitive car insurance quote without any obligation.