Confused.com has recently published its quarterly car insurance price index report and it is rather disturbing to read that 62% of motorists stated that when their motor insurance policies came up for renewal the premium had gone up. In fact, a survey has also revealed that in the three months to June 2018 those people renewing their cover with their existing insurance provider saw their premiums increase by an average of £49 per annum.
This is concerning when you also take into account the fact that, according to the above index, the average cost of fully comprehensive car insurance dropped by an average of 11% to an average of £752 per annum in the 12 months to June 2018. This is an average fall of £95 per annum.
Another concerning statistic is that 58% of motorists decided to keep their cover with their existing insurer rather than try to get a cheaper premium with a different motor insurer.
Whilst there is no guarantee, if only those policyholders who received their car insurance renewal notices had decided to shop around to see if they could get cheaper, quality cover with a different insurance company, they may have been able to save a few pounds. It really does not involve a lot of time and effort these days to get competitive quotes especially with the availability of the Internet. There are several price comparison websites who have an extensive panel of insurance companies on their database so it is quite possible that you may be able to get a better deal than you are currently getting from your current insurer.
It is also very quick to get one or more quotes these days and this can be done 24/7 from the comfort of your home. If you do find an alternative insurer and wish to go ahead it is often possible to set up a new policy and pay for it online such is the power of the Internet these days.
Another option is to get in touch with your local high street insurance broker and see if he or she can get you one or more competitive motor insurance quotations. Your bank and the other high street banks as well as the Post Office may also be able to arrange for you to receive some competitive quotes to insure your car. Remember, if you don’t do some research into the cost of insuring your vehicle then you may not benefit financially.
