Evidence That it Pays to Compare Car Insurance
Recent research from consumer action group Which? found that motorists who took time to shop around for their car insurance at renewal time saved 18% compared to those who simply accepted a renewal quote. This comes as encouraging news both for consumers and car insurance comparison sites like Tiger.co.uk.
The research was carried out with over 500 Which? members and underlines just how important it is for drivers to shop around for their car insurance.
Motorists who took part in the research had paid an average of £343 for the previous year’s car insurance cover and the average renewal quote offered by the existing providers was £405 – 15% more than the previous year.
Approximately 80% of motorists in the study shopped around to find alternative car insurance quotes. Those shoppers were rewarded for their efforts with a resultant average final premium of only £332 – a whole 18% less than the renewal quotes offered for existing policies and 3% less than the premiums paid in the previous year!
The study also found that even those who didn’t shop around managed to save an average of £15 against their renewal quote just by picking up the phone and negotiating price with their existing insurer.
Andrew Goulborn, Commercial Director for car insurance comparison site Tiger.co.uk commented, “This supports our recommendation to drivers to always shop around at renewal time. Using a comparison site like Tiger.co.uk can provide the peace of mind that comes from knowing that you have scanned the market for the best deal available to suit your individual requirements. Whether you choose to switch to a more affordable insurance deal or to use the information you find to try and negotiate a better deal with your existing insurer we would always suggest taking the time to research the market”.