Car insurance customers warned against delays

Fri, 04 Feb 2011

New research has found that car insurance customers paid an average of 44p more for every day they delayed renewing their policy in 2010.

According to moneysupermarket.com, many Brits ended up paying more than necessary because they left renewing their policy until the last minute.

The research added that insurance premium prices rose by an average of 31 per cent year-on-year.

"Our research shows that every day they delay shopping around and looking for the best deal adds extra cost to their premium price," explained Peter Harrison, car insurance expert at moneysupermarket.com.

"With so many factors making the cost of motoring much less affordable for a large number of people, every penny counts and being quick off the mark can really make all the difference."

Meanwhile, it was revealed recently that Admiral, the UK car insurance provider, now covers more than one in ten of all Britain's cars after continued market share gains.

Admiral had a seven per cent share of the UK market, with RBS leading the way through its Direct Line and Churchill brands. 
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