News

Almost 3 million more motorists auto-renewed policy compared to Feb 2020

• Drivers auto-renewing could collectively be paying £2.1bn more than they need to.  
• Warning comes ahead of one of the busiest months for car insurance renewals.
• New research reveals 24% of motorists allowed their insurer to auto-renew their policy in last 12 months – up from 15%.
• Drivers who allow their insurance to auto-renew without checking prices could each be out of pocket by up to £277.

• Buyers of 21-numberplated cars face a non-traditional sales process.
• Online research essential for buyers with showrooms shuttered and test drives banned.  
• Check insurance group for clues on safety, security and repair costs.
• Shop-around to check insurance costs and see if you can get a better deal.

According to GoCompare data, the average price of a pup is now £1,900* but less than half of pet insurers offer more than £1,000 should your dog go missing.

As cost of policyholders’ contributions to claims increase by up to 47% - drivers are urged
to consider the total costs of car insurance

• The average compulsory excess for theft claims has risen by 47% in the last 12 months¹
• Compulsory excesses for accidental damage and fire claims have increase by 26%, on average
• GoCompare Car Insurance’s free excess protection will pay-out up to £250 for qualifying car insurance claims².   

• 43% of Brits didn’t switch any of the 10 most popular financial products in the last year.
• 88% of Brits are looking to make savings on essential outgoings and bills in 2021.
• GoCompare warns blind loyalty to financial product providers and utility companies collectively costs Brits £billions in overpriced premiums.

• Reminder to check home insurance policy for valuable emergency cover
• 26% of buildings insurance policies automatically include home emergency cover
• 49% offer cover as an additional extra

40% of Brits facing a financially ‘very difficult’ year

GoCompare Car Insurance summarises key information and help for motorists

With fears of another Beast from the East, GoCompare has tips on how to protect your bubble

• 16% of Brits have started 2021 with a credit card debt and 12% will remain in debt all year.
• 24% of Brits know they could save money on their card and loan interest, but only 9% switched credit cards last year.
• GoCompare Money provides tips on managing credit card debt.

• Wellbeing support made standard for those arranging life insurance through GoCompare
• ONS figures show that adults experiencing depression doubled in 2020

According to new research¹ from GoCompare Money, 88% of Brits are looking to make savings on essential outgoings and bills in 2021, including the grocery bill, TV, mobile and internet contracts and car insurance costs.