Drivers 'failing to switch' insurance
Published On 27 November 2007
Drivers in the UK are missing out on cost-savings because they do not switch their car insurance policies often enough.Research carried out by Tesco found that one in ten motorists have never switched insurance products or have stuck with their provider for ten years.
Some nine per cent last sought a new car insurance deal between five and ten years ago and 23 per cent switched between three and four years ago.
Despite this, 32 per cent of drivers have changed their insurance company within the last year.
"Our research shows that there are a great proportion of motorists out there who aren't searching for the best deal for their car insurance and who are instead staying with their current car insurance provider," said Peter Dingle from Tesco Compare.com.
"It seems that these people are the ones valuing policy features and the level of cover provided above the cheapest policy available."
A recent study from Moneysupermarket found that people living in London pay the most for their car insurance, while drivers in Leeds benefit from some of the cheapest deals.
