Car Insurance Due?
Car Insurance
Half of motorists paying over the odds
Brits could be paying too much for their car insurance due to apathy over policy renewals, it has been claimed.
According to market research company, Mintel, around half of UK motorists (15 million people) renewed their car insurance without shopping around for another quote.
"The majority of people feel that they are happy with their policy but as they have not looked around for any alternatives a better option could be just a phone call away," said Paul Davies, senior finance analyst at Mintel.
"The reality is that unless they have made a claim they cannot really assess just how good their provider or policy really is."
The research also revealed that homeowners tended to renew their home insurance cover without looking for a better deal.
Of those questioned, consumers appeared to be even more apathetic about switching home insurance lenders than changing their car insurance policies, Mr Davies said, with almost two-thirds failing to seek out cheaper alternatives.
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