Car insurance news roundup: week ended 3rd Sept 2012:
Life is complicated enough sometimes without having to manage your motor car insurance, but apathy can cost you hundreds, according to news stories this week.
First up, new evidence has emerged once again that you’re a bit daft if you simply take what’s dished out to you when it comes to your auto-renewal. Drivers are apparently losing billions by taking their car insurance rate hikes lying down by auto-renewing their policies with their existing car insurance companies instead of looking for better deals elsewhere.
A collective £3.1 billion every year is being lost by drivers that stick with an overpriced insurance quote, according to a well-known car insurance comparison website. Around one out of every five drivers auto-renew, according to the study, with the results being that £404 per driver per year is lost on average as a result.
The thing is you can’t just blindly accept your insurer’s auto renewal price because you can’t be bothered to put in the bit of time to find a better deal. You will, in fact, almost always find that better deal by shopping around, because insurers are notorious for offering the best discounts not to their existing customers but their new ones instead – it’s a bit unfair to be penalised for loyalty, but that’s the way it is at the moment.
Worse yet, there could be even more people getting raked over the coals, thanks to the news that the new ’62’ car plate was released recently. New plates usually trigger a bump in new car sales, and we all know what that means: higher insurance premiums.
Around this time of the year, quite a few families are returning home from summer holidays after straining budgets to the maximum. Buying a new car around this time is great if you can afford it, but sticking with your current provider is tantamount to just digging a hole in your garden and dumping pound notes inside it in such an instance.
Shopping around to find the best cover for a new car is something you simply must do if you don’t want to have to pay out an arm and a leg on your comprehensive cover. It doesn’t even have to be a long, drawn-out process, either, thanks to the number of excellent comparison websites available – all you need to do is put in your personal details just once, and you’ll get a wide range of quotes to choose from, all in a few moments instead of hours spent contacting insurer after insurer.