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Car insurance customers 'taken for a ride'

Car insurance customers could be missing out on the most competitive quotes by remaining loyal to one provider, according to new research.

Figures suggest that a growing number of British motorists are falling foul of the "renewal trap" by sticking with the same provider.

In the same way consumers would seek out the best rates when applying for loans, car insurance customers should shop around for new policies, says moneysupermarket.com.

The price comparison service also reminds drivers to keep their insurance companies up to date with any changes to their personal detail which could lead to a policy price change.

"A renewal quote should be even more competitive than the previous year, yet providers seem to be relying on people's apathy to increase their own profits," said director of insurance Richard Mason.

He said that switching to another provider "requires very little extra effort".

"The renewal trap is an easy one to fall into. It can end up costing you hundreds of pounds extra or, in extreme cases, perhaps in the thousands," Mr Mason concluded.

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