Motorists 'could save one third on premiums' by shopping around

Posted :29-03-2005

The average motorist could save a massive 32 per cent on the annual price of their insurance premium by shopping around for cover, new research has found.

According to Sainsbury's Car Insurance although motorists could save almost one third on their policies, which often amounts to hundreds of pounds, by scouring the marketplace, more than five million motorists failed to seek more than one quote the last time they purchased cover.

Joanne Mallon, car insurance manager at Sainsbury's Bank, stated that consumers do not have to spend a long time researching insurance prices to make savings and also outlined that there is often not a correlation between the price and quality of cover.

"Spending a little time shopping around for your car insurance could save you hundreds of pounds a year in lower premiums," she said.

"You don't even have to sacrifice the quality of cover as you can often increase this while reducing your premiums."

According to the insurer over 15 million motorists, who have been with their current insurer for at least three years, experienced a rise in their premiums last time they renewed their policies.

As a result of the highly competitive car insurance market, consumers are thus advised that loyalty is not necessarily the key to securing the best value deals.

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