Motorists should shop around for car insurance
29/03/2005
British motorists could save 32 per cent on their insurance premiums if only they shopped around, Sainsbury's Bank has revealed.
It found that five million motorists failed to obtain more than one quote when they were sorting out their car insurance.
Furthermore, of the 15.4 million motorists who had stayed with the same insurer for three years or more, 38 per cent reported an increase when they came to renew their policies.
Of those that had reported an increase, eleven per cent reported an increase of between four and six per cent, while a further five per cent of motorists had been the subject of a hike in excess of ten per cent.
Joanne Mallon, the car insurance manager at Sainsbury's Bank, said: "Spending a little time shopping around for your car insurance could save you hundreds of pounds a year in lower premiums."
Ms Mallon added: "You don't even have to sacrifice the quality of cover as you can often increase this while reducing your premium."
It found that five million motorists failed to obtain more than one quote when they were sorting out their car insurance.
Furthermore, of the 15.4 million motorists who had stayed with the same insurer for three years or more, 38 per cent reported an increase when they came to renew their policies.
Of those that had reported an increase, eleven per cent reported an increase of between four and six per cent, while a further five per cent of motorists had been the subject of a hike in excess of ten per cent.
Joanne Mallon, the car insurance manager at Sainsbury's Bank, said: "Spending a little time shopping around for your car insurance could save you hundreds of pounds a year in lower premiums."
Ms Mallon added: "You don't even have to sacrifice the quality of cover as you can often increase this while reducing your premium."
