Residents of the UK are paying £3 billion too much for their insurance, Churchill has found.
The insurer has found that by shopping around and buying online people could knock 20 per cent off their annual bill - that is equivalent to a saving of £150 a year.
Frances Browning, spokesperson for Churchill Insurance, said: "The New Year is traditionally the time to make resolutions and to spring clean finances. It's easy for people to make substantial savings on their annual insurance bill by taking a fresh look at their cover.”
Other methods that could allow consumers to save money on their insurance bill include: fitting more locks to windows and doors, paying for insurance annually, telling your insurer you only use the car at weekends, and giving up smoking.To find some of the cheapest online insurance deals, click here.
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