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Six million switch car insurance

Published: 07/05/2008
Six million switch car insurance
Over six million motorists have changed car insurance provider in the past six months in a bid to avoid the rising costs of premiums.

Research by MoneyExtra.com found that 14 per cent of people changed their provider and the price comparison site is urging anyone whose policy is due to expire this year to shop around.

It predicts that insurance premiums will increase by ten per cent as a result of a rising number of claims and Sean Gardner, the founder of Moneysupermarket, has warned consumers that existing customers pay extra in order to allow the companies to offer attractive deals to new consumers.

"With over 35,000 people switching car insurance provider every hour it seems that the nation is catching on to the situation and voting with their feet. These days you can compare quotes in seconds online so no wonder millions are now taking advantage," he said.

The research also found that men were more likely to change insurer, with 15 per cent doing so, compared to 13 per cent of women.

MoneyExtra allows consumers to compare the prices of insurance products, including car and travel.
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