'Only a third' have swapped car insurance in the last year

Posted :26-11-2007

Less than a third (32 per cent) of motorists have switched their car insurance within the last 12 months, according to Tesco Personal Finance.

For the 71 per cent of consumers who have changed their car insurance firm in the last year, price is a big factor when choosing a provider, while those who have stayed with their insurer for over three years do not rate price as highly.

The research indicates that only 24 per cent of motorists who have remained loyal to their provider for over ten see the price of the policy as a key determinant.

Of those who tend to stay with their existing firm, the level of cover provided to them was more of a deciding factor in choosing a policy.

A recent study by car insurance company elephant.co.uk suggested that self-styled celebrities have to pay more for things no matter which provider they go with, due to their status as well-known individuals and the risk of having other famous people in their cars.


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