Remaining loyal very rarely pays for car insurance customers, one expert has claimed.
Writing for fool.co.uk, Cliff D'Arcy explains that car insurance firms offer the best deals to new customers, often at the expense of people who are already with the company.
He said: "Most of the time, they are able to offer attractive quotes to new policyholders purely at the expense of their existing customers.
"Hence, when it comes to insurance, loyalty hardly ever pays."
Mr D'Arcy gave the example of a friend who decided to change car insurance firms after 11 years, he found that he could save £400 a year just by switching to a different company.
People should compare their renewal quote to last year's premium to find out just how much their car insurance company is increasing the cost by, he concluded.
Yesterday, research by MonetExpert.com found that 350,000 people have driven without car insurance in the past year.
Loyalty does not pay, car insurance customers told
Financial Services > Car lnsurance > News
Loyalty does not pay, car insurance customers told
Fri, 25 Apr 2008
Recommended links
Online car insurance information and quotesCar insurance quote form
Get quotes from major car insurance providers
Car breakdown cover
Good drivers insurance guide
Women's car insurance guide
New car insurance customer loyalty initiative
Boy racers pay more for car insurance
| Car Insurance news |
|---|
| Poor standard of roads adding to car insurance premiums - Tue, 05 Apr 2011 |
| Car insurance holders urged to get regular eye checks - Fri, 01 Apr 2011 |
| Civil litigation reforms could see fall in car insurance premiums - Thu, 31 Mar 2011 |
| More News |
Car FinanceSimplyhealth Dental Plan
Affordable cover from only £7.50 per month. Join now and get first month FREE
Protect Your Health
Find Critical illness, Life and Private Medical Insurance PMI policies.
Save on Your Mortgage
Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.