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Car insurance savings 'could buy a new car'
Mon, 14 Nov 2005
Shopping around for car insurance could help people save enough to be able to afford a better car, new research has claimed.
Figures released by Confused.com suggest that car owners would be able to afford a better car if they spent time looking for the best car insurance deal.
The research found that 40 per cent of people currently paying the top rate of car insurance would be able to purchase a better car if they looked at different car insurance options that could reduce the rate that they pay.
"While we don’t expect drivers to automatically upgrade their cars based on the money that they would have saved by finding the cheapest car insurance, our research does make a very important point - that unless you shop around for insurance, just as you’d shop around for a good deal on a new car, you could be flushing money down the drain," commented Confused.com's managing director, Kate Armstrong.
Over 40 per cent of motorists fail to get a quote from any company other than their own insurance provider when their policy comes up for renewal and that decision to stick with what they know is costing drivers thousands in unnecessarily high premiums.
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