Seven quotes key to cheap insurance

Posted :21-06-2005

Motorists can save almost a pound a minute by shopping around for car insurance, according to a new study.

Research commissioned by Swinton found that on average 55 minutes and 11 seconds is needed to find the most competitive car insurance policy.

The study concluded that it is advisable to seek seven different quotes, saving motorists an average of £52.26 - compared to if they had obtained just one quote.

A typical consumer spends just over 23 minutes researching their car insurance, getting just three quotes, which is restricting their likelihood of purchasing the best value cover.

The average car insurance premium is £508.33, compared to £456.07 for motorists who sought seven quotes.

This study is backed up by industry experts who advise motorists to shop around for cover, and by previous research.

A recent study found UK motorists to be spending £1.2 billion over the odds for car insurance.

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