If your basic comprehensive car insurance policy is due for renewal soon, consider the following facts and figures.
All information given below is true, based on no claims being made in the period 2006-2007, and provides a real-life example of how much your policy might increase by if you neglect to shop around at the end of the first year, or at the very least query (any) rises in premiums with your current provider:
Basic Comprehensive Cover
Premium 2006-2007, £185.72.
Premium 2007-2008, £240.41 (Renewal Quote)
Increase £54.69. Percentage increase 29.4%
Motor Legal Protection
2007-2008, £25.99 (Renewal Quote)
Increase £3.15. Percentage increase 13.8%
Monthly Charge for Payments by Instalments
2007-2008, £2.22 (Renewal Quote)
Increase £0.40. Percentage increase 22%
I think you would agree these increases are just slightly more than the current rate of inflation! Regardless of the type of cover you currently have in place – comprehensive or third party, always, always try and obtain at least one comparison motor quote(s) when your policy comes up for renewal.