UK Money News
27th November 2007
Motorists 'have not caught the switching bug'
Many motorists are still not making the most of the help with money that switching car insurance providers could afford them, it has been claimed.
According to personal finance specialist TescoCompare.com, only 32 per cent of drivers have switched insurers within the last year.
However, the firm's research also suggests that for those electing not to change, there are considerations other than price being taken into account.
The company contends that many of those who have elected to continue their relationship with their current personal finance product provider have done so because of the level of cover afforded to them, rather than the help with money associated with premium prices.
Peter Dingle, managing director at TescoCompare.com, said: "It seems that these people are the ones valuing policy features and the level of cover provided above the cheapest policy available."
In related money news, the most recent Sainsbury's Bank car insurance index revealed a progressive rise in premium costs.
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