Brits 'paying an extra £1.9 billion' for insurance
Date: 28/02/2008 12:00:00
Motorists in the UK are paying over the odds for their car insurance because they are not taking the time to shop around, findings have shown.
According to a study by swiftcover.com, Britons are paying an extra £1.9 billion every year for uncompetitive cover deals.
"With household bills rising ever higher, it seems crazy that UK consumers should willingly waste over £1.9 billion by sticking with the same old insurer year after year," commented Tina Shortle, marketing director of swiftcover.com.
In response to the findings, the firm has suggested a number of ways in which drivers could cut their insurance bills, including not paying for additional policy features such as overseas driving unless they will be using them.
The company also suggested that drivers opt for a smaller, less valuable car to save some cash.
Earlier findings by Insurancewide.com also suggested that drivers could be throwing money away by failing to look for the most competitive deal.