Car Insurance

Drivers in the UK with four years plus no claims bonuses are not taking advantage of potential savings, claim experts. Failure to shop around for a car insurance quote is costing the average Briton hundreds of pounds, new research claims. Millions of drivers in the UK with four years no claims discount are not looking at more than one car insurance provider for their cover – and are potentially missing out. Privilege Insurance claims that an average saving of £127.52 could be made by each of the 11 million drivers in the UK with four years or more no claims discount – this adds up to a combined total of £1.4 billion

in savings compared to those people who do research their car insurance premiums. Ian Parker, managing director of Privilege Insurance, said: "In an age where financial literacy is increasing, it is worrying to find that so many motorists have never used their four plus years no claims discount – which they’ve earned by driving safely – to ensure they get the best deal in an increasingly competitive market. "Drivers with even one year's no claims discount can save money by shopping around, but for those with four plus years no claims the savings can be impressive. "Our research details the potential financial cost of failing to shop around to get the best quote."