Car insurance companies gearing up for busy month

Car insurance companies have begun to gear up for a busy month, as the new ’61’ registration plate due out in September could bring as many as 330,000 new vehicles being registered in the next few weeks.

For those Brits who are indeed registering a new car in September, one car insurance comparison site recently recommended that they shop around to find discount car insurance.  The comparison website said that it could experience as many as 1.5 million searches alone over the course of the month as motorists hunt up the best car insurance rates they can find.

According to official figures, 70 per cent of UK motorists used an insurance comparison site to find the best rates for their insurance cover last year.  A full 50 per cent of those drivers who did search these comparison websites found a less expensive alternative to their current insurance cover, which resulted in an annual savings of £354.35 for the average motorist.

However, some customers made even more significant savings.  One such 23 year old comparison site customer who had been quoted £1,640 to renew the cover on his VW Golf saved £821.

Research study findings showed that 12 per cent of motorists in the UK have never considered switching insurance providers, despite the significant savings and many rewards available to them if they would simply shop around for the best rates.  Research study respondents indicated that they believed remaining loyal to their insurance providers would lead to being rewarded with more affordable insurance rates, but the majority of insurers will do little more than offer a no-claims discount for a customer’s loyalty – something that can make little difference in the face of premium increases across the board.

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