Looking ahead to 2011, moneysupermarket.com is anticipating higher prices across many financial services sectors including car insurance. However, it claims that customers can save hundreds of pounds by comparing deals before they buy.
Steve Sweeney, head of car insurance at moneysupermarket.com, said: “2010 was definitely the year of car insurance price hikes, largely due to the rise in personal injury claims that insurers have had to pay out for, as well as the costs incurred by uninsured drivers and insurance fraud.
“Unfortunately I expect that premiums will rise by a further 20% in 2011.”
He added: “In the face of rising premiums, shopping around for car insurance has never been more important and consumers will benefit from renewing their policies as early as possible.
“Using moneysupermarket.com consumers are able to make an average saving of £286 on their policy. It’s crucial people don’t auto renew with their existing insurer without researching other options available to them first.”
