Thursday, 24 February 2011
Motorists Wasting £1.7 Billion On Car Insurance Renewals
Luxury car enthusiasts may be interested to hear that motorists in Britain are wasting £270 each, or £1.7 billion collectively, by renewing their car insurance with their current provider and not looking for better deals with other providers.
Research carried out by moneysupermarket.com found that 20 per cent of drivers don't look for better deals with a tenth of these believing they wouldn't get a better deal elsewhere.
The survey revealed drivers over 55 are the worst culprits with 21 per cent not shopping around when renewing their car insurance policy.
Peter Harrison, car insurance expert at moneysupermarket.com, said: "With car insurance renewals season in full swing, it's important that drivers take the time to shop around to take advantage of the savings that can be made by switching."
Mr Harrison noted that increasing fuel prices and rising insurance costs make it more important than ever that motorists find the best insurance deals on the market.
It was recently revealed that female drivers could face massive insurance increases as the European Court of Justice is preparing to rule over the issue of gender in the car insurance industry.
Click here to view the wide range of prestige cars available from Sytner Group; the UK's leading retailer of luxury and specialist vehicles.
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