50% rise in the number of drivers regularly switching their car insurer

50% rise in the number of drivers regularly switching their car insurer

According to new research conducted by price comparison website, GoCompare.com, the number of motorists switching their car insurance provider has increased significantly.

The results of the GoCompare.com poll found that in December 2009, only 22% of drivers were shopping about and switching their car insurance company after finding a better deal, however that figure has risen to 34% according to the most recent statistics taken in October 2011, which indicates a 50% increase in the number of people moving providers in the space of two years.

While more and more people seem to be getting the message that comparing providers can save you money on car insurance, the message doesn’t seem to be translating for other financial products with a third of Brits having never switched providers for any of the top 20 financial products such as their bank, energy supplier or their broadband.

Car insurance is by far the one financial product Brits are keen to shop around for, with 77% of us using a price comparison site in the last year to find a cheaper rate on our annual car insurance premium, followed closely by home insurance with 22% of homeowners comparing and then switching their policy in the last 12 months.

The experts who carried out the research at GoCompare.com say that people need to wake up to the savings that are available by comparing a range of providers for everything from their mortgage provider to their telecoms supplier.

According to GoCompare.com, people who use their comparison site to search for car insurance saved on average £393.67, and £125.33 on their home insurance and a massive £557.33 on their energy tariff, savings that are not to be sniffed at, especially in the current economic climate.

INSURERS

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