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According to the latest figures from industry experts, it is estimated that the residents of the UK lose £2.4 billion a year because they don’t take the time to shop around when their car insurance is due for renewal.
The figures from MoneySuperMarket.com show that 20% of drivers just let their insurance policies renew without shopping around. Many thinking that their policy will be reduced each year, but many actually finding they are going up. Around 7.3 million let this happen, with the average person losing out on a £333 saving per year.
When asked about why they didn’t shop around, 9% said they didn’t think they would save on their current policy and 7% said they weren’t bothered to see if they could save.
With the cost of petrol rising and the cost of motoring going up, it pays to be more vigilant when managing the costs of running a vehicle. This also applies to services like breakdown cover and car warranties.
The apathy shown in this study is the same attitude that stops motorists purchasing car warranties! “Nothing will happen to me”, “I’m sure my manufacturer’s warranty is still valid”, “I will pay for it when it happens”. But the truth of the matter is that things go wrong with cars all the time and the cost of getting them fixed can be very high.
Warranty Wise offer a fantastic range of car warranty products to make sure you and your vehicle are covered in case anything should happen. Take a look at their fantastic levels of cover, all designed and approved by award winning motoring journalist Quentin Wilson.
