Drivers Still Paying More Than They Should On Insurance

Wednesday, 25. February 2009

Even though every other advert on TV seems to be for a car insurance comparison site it is believed that as many as 40% of motorists are paying more than they should be on their car insurance by some staggering margins. BBC 2’s Working Lunch held an advice day and one of the biggest areas of cost saving that could be shown to participants was house and car insurance with one gentleman having his car insurance premium reduced from around £400 to a little over £100 per annum. As was pointed out, the problem is that we don’t like change. Having done a search and found the cheapest insurer we then feel comfortable with that supplier so stick with him until someone points out that you are paying way over the odds, only then do you go on the Internet or get hold of a broker to sniff out a better deal. In fact we should do it a month before renewal every year. That way we make sure we don’t overpay like so many of us regularly do. With insurance rates set to increase this year it will become more important to shop around so shop around early and bag yourself a bargain. And don’t write off local brokers, after trying every comparison site I called a local broker who not only saved me money on the policy his monthly payment interest was much less. By Graham Hill