Consumers looking to get car insurance could risk missing out on money saving deals by not shopping around according to Sainsburys Bank.
The figures, compiled by Sainsbury’s Car Insurance
, have revealed that one in five motorists only bothered to get a single quote last time they looked for cover.
Worryingly, the research has also indicated that a quarter of motorists who have been with the same insurer for three years or more have seen their premiums rise by 1.34 million – a percentage increase of between six per cent and ten per cent. A further half a million people claimed that their premiums had increased by more than ten per cent.
And while this would prompt most people to shop about for a better deal, the study of 967 people found that of those motorists who only obtained two quotes or less the last time they bought cover, 11 per cent claimed it was down to the fact that they could not be bothered to shop about for offers and eight per cent of respondents said that the they were simply too busy to seek out a deal.
Incredibly, despite the rise in competitive deals on offer, 12 per cent did not believe they could get a cheaper quote and a rather fragile two per cent found the whole business of looking for a better deal far too stressful.
Commenting on the findings, 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."
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