Research by a leading price comparison site has revealed that around a tenth of drivers questioned had been with the same insurance company for at least 10 years. So, why do people prefer to stay with the provider, irrespective of the renewal price?
A lot has to be said for customer loyalty in the UK, with people more likely to show commitment to a particular brand unless they have any specific issues. However, the consumer could be losing out when it comes to the best deal.
Most drivers stick with the insurer for at least three years, so why do they not look around for a fairer price? This lies in the fact that only about half of motorists actually check to see how much the renewal premium differs from the previous year, with it being in the insurer’s interests to keep the old price to themselves.