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Sainsbury's Bank warns consumers about increased car insurance premiums

20 April 2005 / by None
Sainsbury's Bank is advising car owners not to get caught out by increases in premiums levied when they renew their car insurance.

According to the bank, 35 per cent of motorists - adding up to about 9.23 million people - say they saw a hike in their premiums the last time they bought cover.

More than two million drivers saw an increase of more than ten per cent, and 4.8 million saw a five per cent increase.

Sainsbury's Bank advises policy holders to be aware of the fact that some alternative insurers may offer a better deal.

"Some insurers entice motorists to take out their cover by offering very competitive premiums and then increase them substantially when it is time for the customer to renew their policy - even though their circumstances have not changed," said Joanne Mallon, car insurance manager with Sainsbury's Bank.

"Motorists need to keep a close eye on their premiums to make sure that they are competitively priced."

According to independent research company Consumer Intelligence, a third of all leading insurers upped their online car insurance quotes between August and December 2004.

Click here to find the best deal on your car insurance.

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