Shop around for car insurance savings

Consumers could be missing out on great deals by not bothering to shop around for their car insurance. Sainsbury’s Car Insurance, which offers competitive premiums, has found that one in five motorists only obtained one quote the last time they bought cover. This is despite the fact that of those motorists who have been with their current insurers for three years or more, over a third of them (37%) claim that their premiums increased.

Sainsbury’s Bank's research indicates that of those motorists who have been with the same insurer for three years or more, over a quarter of people surveyed (projected to 4.19 million) said their premiums rose by up to 5%, 1.34 million by between 6% and 10% and over half a million said that their premiums had increased by more than 10%.

Lucy Hunter, Sainsbury's Car Insurance Manager said: “Sticking with your renewal quote or the first one you get may be tempting, but it really is essential to shop around. In such a competitive market motorists hold the trump card and should take advantage by shopping around for the best deal, making sure they get quality cover whilst keeping premiums low. Despite this, one in four motorists has been with their car insurer for four years or more.”

Of those motorists who only obtained two quotes or less the last time they bought cover, 11% said it was because they could not be bothered to obtain any further ones and 8% blamed a lack of time to shop around. A further 12% did not believe they could get a cheaper quote and 2% found it too stressful.

Lucy Hunter, Sainsbury's Car Insurance Manager said: “Only obtaining one or two quotes won't give you a clear view of the varying price comparisons out there. We recommend getting at least four quotes so that you can compare against price and level of cover and make an informed decision on what you're prepared to spend. These days you can get online quotes in minutes, so it doesn't have to be an arduous exercise."

Sainsbury’s car insurance offers competitive premiums and could save motorists up to £121. Sainsbury’s also offers motorists an extensive range of cover and benefits. This includes a courtesy car when using one of its recommended repairers (comprehensive cover only) and a no claim discount of 70% if you have not made a claim in the past five years, rising to 75% after a further five years’ claim free driving with Sainsbury’s Car Insurance. It is also one of only a few providers to offer new for old replacement child car seats after an accident as a standard feature of its comprehensive policy, even when there is no perceived damage, as well as support and compensation if you’re a victim of car jacking or road rage.