Car insurance industry gears up for its busiest month

Car insurance industry gears up for its busiest month

With the new “61” registration plate due out this month, September is always a busy time for the car insurance industry with 330,000 new cars being registered in the coming four weeks.

If you’re one of the lucky 330,000 to be taking possession of a brand new vehicle this month, the advice from insurance caparison website GoCompare.com is to shop around for a great deal on cover. The price comparison site is anticipating 1.5 million searches for car insurance through its site this September as savvy drivers attempt to sniff out a bargain.

Last year figures revealed that 70% of drivers in the UK used a price comparison website to compare the cost of quotes for car insurance renewal across a range of providers. Half of those motorists who did, were successful in finding a much cheaper deal on their annual insurance, with the average saving from GoCompare.com customer standing at £354.35.

However for some drivers, the savings have been even more impressive. GoCompare.com customer, a 23-year-old computer programmer was sent a renewal quote of £1,640 for his VW Golf, but after comparing quotes on the site, he found a policy which saved him £821

Despite the rewards and the huge savings available to drivers who shop around for car insurance deals, figures showed that 12% of drivers have never switched providers. Many believe their customer loyalty will be rewarded with favourable rates on their annual cover, however this simply isn’t the case for most.

INSURERS

HighGear offical partner of Ageas HighGear offical partner of Axa HighGear offical partner of Allianz HighGear offical partner of Lv HighGear offical partner of Xd-direct