Motorists waste hundreds on automatic car insurance renewals

Tue, 24 Aug 2010

Motorists are wasting £233 a year on average by automatically renewing their car cover with their existing insurer, it has been claimed.

Moneysupermarket.com said that this represents an increase of £92 (40 per cent) compared with last year.

According to the price comparison website, some 8.9 million drivers (25 per cent) automatically renew their car insurance with their provider rather than shopping around to find a better deal.

Of these, 15 per cent don't think they can find a better deal, while a further ten per cent say they will automatically renew their insurance because the cannot be bothered to search for an alternative.

Steve Sweeney, head of car insurance at moneysupermarket.com, commented: "In this current climate, it is shocking to see the sheer scale of drivers who won't spend a few minutes to see if they can save money when renewing their car insurance.

"My advice is simple, don't believe your renewals letter - insurers don't value your loyalty it is rarely the best deal for you."

Earlier this week, Sheilas Wheels car insurance revealed that the average male motorist drives an extra 276 miles every year as a result of being lost.
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