Thursday 20th April 2006
Drivers are benefiting from lower car insurance premiums, according to Sainsburys Bank (SB).
Research from SB revealed that the average car insurance policy fell by roughly £8 between August 2005 and January this year.
People over 65 are benefiting the most from the decline in premiums, as this group paid on average 4.5 per cent less for their car insurance.
According to Richard Clark, car insurance manager at SB, competition in the marketplace is helping to produce the fall in premiums, and as such, "it pays to shop around for cover".
Despite the savings that could be made if people used internet comparison sites to find the most cost-effective and suitable cover, Mr Clark warned that many people are not taking advantage of the savings available.
"[SB] estimates that as many as 19 per cent of motorists only obtain one quote when they purchase car insurance," he said.
"Indeed, we know that 48 per cent simply renew their existing policy."
Further car insurance advice was launched by Saga Motor Insurance, as according to its research, 14 per cent of drivers forget to take the required car insurance and driving licence documentation with them on holiday.
©
Get an instant quote online with Know Your Money.
Powered by Endsleigh Insurance Ltd.
See how much you could save in less than 4 minutes!! We search over 400 insurance prices from the top car insurance providers.
