This was so painless!
Justin M.
Riviera Beach, FL
More than six million people have switched car insurance provider during the past six months in a bid to beat rising premiums.
About 14 percent of motorists questioned by financial website MoneyExpert.com said they had changed insurer when their policy came up for renewal.
It predicts that the rising cost of claims means insurers will increase premiums by about ten percent this year.
But it said insurers were still able to offer discounts to new customers, by raising the cost of cover for existing ones.
Sean Gardner of MoneyExpert.com said: "When it comes to car insurance, loyalty does not pay. The only way that car insurance companies can offer discounts and incentives to attract new business is by passing on the extra cost to their existing customers.
"Have you ever wondered why your renewal notice always seems to rise slightly compared to the competitive quote you got initially? It's because you're paying for someone else's cheap deal."
The company estimates that about 35,000 people are switching car insurance provider every hour, saving up to 30 percent by shopping around for the best deal.
(c) 2008 Birmingham Post; Birmingham (UK). Provided by ProQuest Information and Learning. All rights Reserved.
Car Insurance News: Switching Beats Car Premiums ; PERSONAL FINANCE...Get an auto insurance quote!