Every year UK drivers lose billions of pounds when it comes time to renew their car insurance, but a new law could change all that. Maybe.
As from the 1st of April, all car insurance companies will have to tell customers the price they paid last year for insurance when it comes time to renew. Not only that, but they will also have to mention the benefits of shopping around and comparing quotes.
In other words, by LAW they now have to tell their customers to possibly use a car insurance comparison website.
Millions of People Don’t Compare Car Insurance
Now, you would think once these new changes come into effect it would mean every single driver in the UK would suddenly start comparing quotes and getting Meerkat toys through the post…wouldn’t you? Actually, this isn’t what is going to happen at all.
One recent survey suggests that 41% of drivers will not shop around for car insurance, even if they knew a cheaper quote could be found elsewhere. It seems that loyalty is still strong within the car insurance industry, although in my opinion it shouldn’t be.
This means that even with the new law that comes into effect on April 1st, drivers will still be overspending on their car insurance by approximately £2.5 billion pounds a year, mainly because they don’t compare quotes at renewal time.
A Free Cuddly Toy…? NO!
Perhaps many drivers hesitate at the thought of shopping around because they reckon it’s all about silly adverts and cuddly toys? They might be surprised to find the opposite is true, as long as they use the right site.
Take this car insurance insurance comparison website for example…the one you are on right now. There are no gimmicks and no confusing language. It is all about straight forward quotes in the shortest amount of time possible.
In my opinion you should be very wary of those comparison sites that try and entertain you or spend millions on silly slogans.
No-nonsense Comparison Website Right Here
You really have to wonder how much their advertising campaigns cost, and where all that money is coming from? How can they offer the cheapest quotes when they are spending millions every month on advertising? It’s much better to go with a no-nonsense site that is all about the quotes and nothing else.
Best of all, getting quotes right here is completely free of charge and there is absolutely no obligation to do anything once you have filled in the form, although keep in mind that you get quotes from over 100 companies, so there is a good chance you will find the right deal.
Now that ,mentioning car insurance comparison is to be required by law I think the UK public are going to become more educated about the benefits of shopping around. Hopefully that will put an end to the billions of pounds that are wasted every year at renewal time.