It pays to shop around for your insurance says the AA
It's New Year resolution time and top of that list for Donegal motorists should be shopping around for your vehicle insurance, says AA Ireland.
Over half of Irish motorists have been able to reduce their insurance costs by shopping around at the time of their most recent renewal according to a recent survey.
In response to a survey of over 5,000 Irish motorists carried out by AA Ireland, a leading Irish insurance intermediary, 37.74% of respondents strongly agreed that they had succeeded in lowering their insurance costs by shopping around.
Meanwhile, a further 14.41% somewhat agreed that shopping around had led to a reduction in their insurance premium.
Despite the potential savings shopping around could lead to, almost a third (31.41%) of those surveyed strongly agreed that they only shop around if they are unhappy with the renewal quote from their current provider.
“Even if you have been with your current provider for years, it can be a good idea to regularly get into the habit of checking what other insurers can offer you when it comes to renewing your motor cover to ensure you don’t miss out on potential savings,” Conor Faughnan, AA Director of Consumer Affairs stated.
According to the survey, almost 1 in 12 people (7.92%) strongly agreed that they had shopped around less at the time of their most recent renewal, in comparison to efforts they had made in previous years.
A further 13.52% somewhat agreed that they had been less active in comparing insurance providers at the time of their most recent renewal.
“Many of us are looking for ways to reduce our regular expenses, but we also find ourselves strapped for time on a daily basis and as a result some people may only opt to shop around if they get a renewal offer they’re unhappy with.
"If you feel you won’t have time to shop around yourself it can be worth engaging the services of a broker or an intermediary to compare multiple quotes for you,” Faughnan added.
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