September will be one busy month : the release of the new ‘61’ car registration plate and a great amount of shopping around for motor insurance quotes.
Gocompare.com estimates that it will carry out over 1.5 million car insurance comparisons for customers in September but its recent research suggests that thousands more drivers should be shopping around for their car insurance rather than staying loyal to one provider.
The study found that 70 per cent of consumers have used a comparison site to compare car insurance in the last 12 months with half of them (35 per cent) subsequently switching to get a better deal. However, 12 per cent of drivers have NEVER switched their car insurance provider and their misplaced loyalty could potentially be costing them hundreds of pounds every year.
– Around 330,000 new cars will be registered in September on the new ‘61′ plate
– Gocompare.com will provide over 1.5 million car insurance comparisons
– 70% of consumers have compared their car insurance in the last 12 months
– 35% have switched car insurance provider in the last 12 months
– 12% have NEVER switched their car insurance provider
Gocompare.com is warning drivers to look out for insurers trying to pass on eye watering premium hikes when you switch the car on your policy or when it’s time to renew your old one. According to the most recent AA Insurance Premium Index drivers who took out a car insurance policy a year ago could be presented with premiums which are 30 per cent higher than they previously paid.
Lee Griffin from Gocompare.com, commented: “It’s a lovely feeling when you go and pick up a brand new car but drivers may have the shine taken off the experience this year if they don’t shop around for their car insurance. Around 330,000 new cars will be registered in September 2011 and we estimate that nearly 40,000 drivers will simply stick with their long standing insurer, potentially costing them a collective £14m in extra premiums over the next year.
“Buying a brand new car, or just one that’s new to you, is an ideal time to have a good look at your car insurance. Unfortunately insurers are notoriously bad at rewarding loyal customers so if you’re switching cars this September it may be time to consider switching your insurer too.”
Source : Gocompare.com
