(PRWEB) November 10, 2005
With the new 55-Registration just around the corner, drivers may be surprised to know that, according to http://www.confused.com, 42% of new car buyers miss out on model upgrades because they fail to shop around for cheap car insurance.
The car insurance comparison engine found that over 40% of people paying the top rate of car insurance, could afford to buy a more expensive model if they’d used the money saved by shopping around for car insurance to upgrade their car.
A driver looking to buy an Alfa Romeo 147 could easily pay up to £14,655.42 for a TS model including car insurance. If they had shopped around for insurance they could have saved £407.58, money that would be more than enough to cover the cost of an upgrade to the 147 T.Spark Turismo, with a list price of £14,450.*
The same is true for the Audi A4 where insurance for the T. FSI SE Quattro, which has a list price of £24,325, could cost up to £1,136.74, yet by shopping around cover could be obtained at less than half the price - £524.52. The £612.22 saved could easily cover an upgrade to the FSI S Quattro, which has a list price of £25,115.*
Commenting on the findings Kate Armstrong, Managing Director of Confused.com said, "While we don’t expect drivers to automatically upgrade their cars based on the money that they would have saved by finding the cheapest car insurance, our research does make a very important point – that unless you shop around for insurance, just as you’d shop around for a good deal on a new car, you could be flushing money down the drain."
"Surprisingly, up to 42% of drivers fail to get a car insurance quote from anyone other than their current provider, costing them hundreds of pounds a year. The only way to be sure that your current provider is at least competitive is to search for a better deal. With Confused.com you are able to get full and accurate prices from 96% of the car insurance market in less than five minutes, and at no cost. On average, drivers who do shop around save themselves £150 a year."
- *List price does not include the price of comprehensive car insurance.
- Confused.com uses cutting edge price comparison technology to bring back the cheapest car insurance quotes from 94% of the online insurance market - a figure which is over 30% more than any other search service.
- Users of the site only need to fill in their details once, and Confused.com uses this to search the UK’s leading insurer and broker sites. This typically takes just 5 minutes compared to the 10 -15 hours that an individual would have to spend filling in details for all the sites that Confused.com checks.
- Confused.com also gives direct access to the remaining 6% of the market that have chosen not to participate in its free consumer price comparison service, ensuring that for the first time ever drivers can search 100% of on-line insurers through just one site.