Car insurance market 'most competitive ever'

Posted :06-06-2005

The UK car insurance market is becoming increasingly competitive, according to a major insurer, a trend which should benefit consumers.

According to Sainsbury's Bank, motorists are wising up to the savings on offer in the vibrant car insurance market, with 18.3 million drivers obtaining more than one car insurance quote each year.

However, there are still many more savings for motorists to make. Research from Consumer Intelligence found that if all motorists bought the average premium from one of the top 25 per cent of insurers, they would save a collective £1.17 billion.

This figure highlights the importance of shopping around for cover and for the need to check the contents of policies, rather than to simply opt for the cheapest insurance.

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