80% of motorists use price comparison before renewing car insurance

Press release April 4, 2014 Motoring Insurance

Price comparison is no longer optional, say British motorists, 80% of whom use a price comparison service to check their renewal quotes, according to a new survey by SimpleMotoring.co.uk.

A recent survey of more than 3,800 British motorists found that 80% of them 'always' or 'usually' use a price comparison website to compare their renewal quotes with those from other firms, before deciding whether to renew with their existing insurance provider.

Only one-in-five of those surveyed said that they did not use price comparison websites for car insurance -- suggesting that comparison is the new norm.

No difference between sexes

The survey also found that there was no significant difference between men and women when it came to price comparison usage.

While more men (52.7%) than women (49.4%) said they 'always' used a price comparison website to compare their renewal quotes, this was balanced out by a greater number of women (31.7%) than men (26.3%) who said they 'usually' compared quotes.

Policy comparison is also important

These statistics show how rapidly price comparison has become a habit for consumers, but motorists should remember to take a critical look at what's on offer, and not simply focus on price, says Roland Head, the founder of the SimpleMotoring.co.uk website:

"It's always tempting to buy the cheapest insurance policy available, on the basis that you don't expect to use it. However, some insurance policies are cheaper simply because more items are excluded -- and may lead to extra costs further down the line. For example, many insurers charge an administration fee of £10 or £20 for changing any of your policy details, including your address or car details.

"Skimping on legal cover can be a false economy, too -- I know from personal experience how valuable this can be when it comes to defending yourself in a no-fault claim that's disputed by the other party.

"Finally, some insurers simply provide better customer service than others in the event of a claim. This can make a big difference when dealing with what is often a stressful and traumatic event. Factors to consider include UK-based call centres, extended opening hours and, if you live in an area that's prone to flooding, whether your car will be covered in the event of flood damage."

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Motoring Insurance