Research: Drivers wasting �2.4bn annually

Posted by Francesca Witney

Drivers are wasting more than £2.4 billion every year by failing to shop around when it comes to renewing their car insurance, new research has shown.

According to a study published recently (August 23rd) by moneysupermarket.com, 20 per cent of all motorists - 7.3 million people - simply decide to stick with their existing provider at the end of their current deal.

Some seven per cent of this figure indicated they cannot be bothered to scour the market for a better product that is both better suited to their individual needs as well as being cheaper.

Pete Harrison, car insurance expert at the online resource, explained that the average road-user can save £333 per year on their cover by switching to an alternative company.

This comes after David Ward, MP for Bradford East, called on the government to take action to reduce the spiralling cost of car insurance in the UK, which he says is now a "national issue".
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24/08/2011 15:37

News category: Motoring

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