Do you automatically renew your car insurance?

20% of motorists automatically renew their car insurance with their existing insurer rather than shopping around to get a better deal.

By not looking for the best car insurance deal, according to moneysupermarket.com, motorists are not taking the opportunity to save money and missing out on £141 each.

As Steve Sweeney, head of motor insurance at moneysupermarket.com, says ‘In this current climate, it is shocking to see the sheer scale of drivers who won’t spend a few minutes to see if they can save money when renewing their car insurance.’

You can compare car insurance quickly and easily using a comparison website such as moneysupermarket.com, Gocompare.com or Tescocompare.com.

Critically it’s important to recognise that loyalty to your car insurance provider doesn’t pay.

As Steve Sweeney adds ‘Providers count on your apathy to reap the profits. While they may lure you with a competitive deal or special discount on year one of your policy, not ordinarily available to existing policyholders, you can be sure your renewal price will include a hefty premium – hardly the thanks you were expecting for your loyalty.’