
UK car insurance companies make substantial profits every year because a large number of existing customers just accept the renewal quote from their car insurance provider.
Many people assume that because their first years premium was competitive they will continue to get good value for money from the same insurer. In fact, as an existing customer renewing your car insurance, you could be paying for discounts your insurance company offers to attract new customers.
This is a common way for car insurance companies to get new customers onto their books.
Become a New Customer
A simple way to ensure you don't pay more than a new customer for exactly the same cover is to become a new customer.
Instead of just accepting your renewal premium, get a quote from your current insurer as a new customer. This will expose any discount given by your insurer to new customers which you will be paying for if you renew as an existing policyholder.
Call the insurers advertised phone number or get a quote from their website, but don't use the contact details from your renewal pack.
Shop Around
Armed with the best quote from your current insurer compare it against at least ten other car insurance companies. The internet makes this far less hassle than it used to be and you can now get multiple quotes from major insurers using comparitive car insurance sites such as Moneysupermarket and Screentrade.
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AP - The Illinois House voted overwhelmingly Friday to impeach Gov. Rod Blagojevich, an unprecedented action that sets up a Senate trial on whether he should be thrown out for abuse of power, including allegations that he tried to sell President-elect Barack Obama's vacant Senate seat.
AP - The nation's unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as nervous employers slashed 524,000 jobs, capping one of the worst years in modern history for American workers.
AP - Promising to protect the United States while adhering to its core human values, President-elect Barack Obama formally unveiled his intelligence team Friday, praising their integrity, management skills and willingness to tell him the truth.
AP - The Illinois Supreme Court says Secretary of State Jesse White doesn't need to sign Roland Burris' appointment to the U.S. Senate to make it valid.
AP - Israeli jets and helicopters bombarded Gaza Friday and Hamas responded with a barrage of rockets on at least two cities as both sides defied a U.N. call for an immediate cease-fire.
AP - There are so many parents in this free-spirited, unconventional small town who won't get their kids vaccinated that federal researchers are paying money just to hear their side of things. On Saturday, 80 locals will get $50 apiece to talk about their worries over the risks of childhood shots.
AP - A former actor on "The Sopranos" was sentenced Friday to 10 years in prison for a botched burglary in the Bronx in which an accomplice shot and killed an off-duty police officer. A jury acquitted Lillo Brancato Jr. of second-degree murder in the death of the police officer, but convicted him of attempted burglary. He had faced up to 15 years in prison.
AP - A changing of the guard — and tackles and running backs and receivers — saw 15 first-timers make The Associated Press 2008 NFL All-Pro team announced Friday. While such standbys as three-time NFL Most Valuable Player Peyton Manning and six-time All-Pro Ray Lewis made the squad, there was plenty of room for newcomers. Ten of the 14 offensive players and five of the 13 on defense had never been All-Pros.
Reuters - The Illinois House of Representatives impeached Gov. Rod Blagojevich on Friday for abuse of power, including a charge that he tried to sell President-elect Barack Obama's former U.S. Senate seat.
Reuters - The U.S. unemployment rate surged to the highest level in nearly 16 years last month as a deepening year-long recession forced companies to cut payrolls by more than half a million jobs, data showed on Friday.
Reuters - Israel rejected a U.N. resolution calling for a ceasefire in the Hamas-ruled Gaza Strip on Friday and warplanes and tanks pounded the Palestinian enclave.
Reuters - President-elect Barack Obama's economic team is working to overhaul the $700 billion financial rescue program to stem mortgage foreclosures and spur the flow of credit to the struggling U.S. economy, an Obama aide said on Friday.
Reuters - A top bank industry group said on Friday that it opposes an agreement between Citigroup Inc and Democratic senators that would rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, saying it could make home loans more expensive.
Reuters - The European Union sought to finalize details on Friday of a gas monitoring deal to allow the resumption of gas supplies to Europe via Ukraine, which have been cut off for days over a pricing row.
AFP - A defiant Israel pounded Gaza with bombs and shells Friday, vowing to pursue its war on Hamas despite a truce order from the UN Security Council, amid warnings the population was running out of food.
AFP - Somali pirates said Friday they had freed a Saudi-owned supertanker, whose capture nearly two months ago caused panic in international shipping and spurred the world into tougher anti-piracy action.
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