What do you do when you receive your renewal notice for your car insurance from your existing insurance provider? Do you just file it in your drawer or delete it from your email’s inbox? Do you read it but pay no attention to the content? Do you study it in detail and compare how much your existing insurer intends to charge you for the next 12 months in comparison to how much you have been paying in the past year?
Unfortunately, there are probably some motorists who do absolutely nothing. However, if some recent research is anything to go by, some of them would have been better to have shopped around as they may have been able to get cheaper cover elsewhere.
The price comparison website known as Confused.com had some interesting research carried out by One Poll between the 29th September 2023 and the 5th October 2023. It surveyed 2,000 drivers in the UK who had car insurance. These motorists had car insurance policies that were coming up for renewal during the third quarter of this year. The survey revealed that 63% of policyholders received a renewal quote that cost more for their cover than they had been paying in the previous 12 months. On average, their premiums were rising by £87 per annum. When those drivers obtained quotes from other providers through a price comparison website they were able to save an average of £88 per annum. Also, there were 9% of motorists who obtained a cheaper renewal quote from their existing insurer but when getting a comparative quote from a price comparison website were able to save an average of £64 per annum.
The above would indicate that potentially it pays to shop around and get car insurance quotes from one or more price comparison websites when your existing cover is shortly due to be renewed. So, if you would like to obtain a competitive car insurance quote, why not get in touch with us at your earliest convenience to see if we can assist you further.