Over four million drivers stuck in £982m insurance loyalty trap
Research by GoCompare shows 44% of drivers let their car insurance automatically renew, with customers overpaying by £982m a year.
A survey by GoCompare Car Insurance has found that 4.1 million motorists are overpaying for their car cover by £982m a year by allowing their insurer to automatically renew their policy.
The GoCompare Car Insurance’s Auto-Renewal Study discovered that at their last renewal, 44% of drivers let their insurance automatically renew, 13% did so without shopping around.
Automatic renewal
The price comparison website noted that the following reasons had been given to why drivers may renew
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