Don't Just Accept Your Car Insurance Renewal Quote

Article by UK Insurance Index
Article added: 17/5/2005 - Last updated: -
Rating: 4.50

(6 votes)

UK car insurance companies make substantial profits every year because a large number of existing customers just accept the renewal quote from their car insurance provider.

Many people assume that because their first years premium was competitive they will continue to get good value for money from the same insurer. In fact, as an existing customer, you could be paying for discounts your insurance company offers to attract new customers. This is a common way for car insurance companies to get new customers onto their books.

A simple way to ensure you don't pay more than a new customer for exactly the same cover is to become a new customer. Instead of just accepting your renewal premium, get a quote from your current insurer as a new customer. Call the insurers advertised phone number or get a quote from their website, but don't use the contact details from your renewal pack.

Armed with the best quote from your current insurer compare it against at least ten other car insurance companies. The internet makes this far less hassle than it used to be and you can now get multiple quotes from major insurers using comparitive sites such as Moneysupermarket and CompareTheMarket.com.

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PLEASE NOTE: The guidance published in this article is for information only and does not constitute financial advice or a recommendation of any particular product or company. If you are in any doubt please consult an independent insurance adviser. A database of advisers in your area is available at www.unbiased.co.uk

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