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- 13% of motorists allow their insurers to automatically renew their policy without shopping around to check whether they’re getting a good deal;
- Renewing without checking prices costs drivers a collective £500m a year;
- 20% of drivers have been with the same insurer for 3 years or more;
- Motorists who pay for insurance in monthly installments are 55% more likely to allow their cover to renew automatically than those who pay annually.
Bank Holiday DIY warning – tackling jobs you’re not qualified for could invalidate your home insurance
- Only 43% of homeowners would employ a professional tradesperson to carry out home maintenance work;
- 29% of DIY-ers would attempt plumbing jobs, 24% would undertake electrical work while 13% would try to fix the boiler or central heating;
- Standard home insurance, with-out accidental damage cover, is unlikely to cover your property or possessions against a DIY disaster.
- Analysis2 reveals that since 2012, increases in compulsory excesses for fire, theft and accidental damage claims have outstripped inflation3;
- Depending on the policy, drivers face excesses of up to £3,000 for excesses for accidental damage, theft and fire-related claims;
- 62% of drivers admitted they would have to raid savings or turn to credit to pay their excess, in the event of a claim;
- GoCompare Car Insurance’s new free excess protection will pay-out up to £250 for qualifying4 car insurance claims.
Analysis1 of car insurance policies reveals that since 2012 admin fees have become more commonplace, with charges increasing by twice the rate of inflation2
- 85% of homeowners have updated their property in the last 5 years;
- Interior redecoration, new bathrooms and flooring top the home improvement list;
- Home fashion trends account for 8% of improvement works;
- GoCompare Home Insurance warns that major improvement works might invalidate home insurance cover.
GoCompare shares tips on how to avoid having a car insurance claim rejected
62% of drivers admit they would have to raid savings or turn to credit to pay their excess, in the event of a claim
The Government has announced a change to the ‘Discount Rate’ – also know as the Ogden rate – applied to personal injury lump-sum compensation payments, to minus 0.25% from minus 0.75%. The increase is likely to result in lower car insurance costs for motorists.
- 1.5 million people have delayed plans to move home in the last three years;
- 60% of would-be home movers have put their plans on hold due to Brexit.
GoCompare, one of the UK’s most established comparison websites, has joined the Insurance Fraud Bureau (IFB) as an official member.
“Most drivers are still paying historically very high prices for their car insurance”