KAG Blog

63% of drivers in UK staying with existing insurer

Posted on: July 18th, 2012 by Richard Raw No Comments

Almost two thirds of British drivers (63 per cent) haven’t switched insurer in the last 12 months despite record high car insurance premiums, according to research from leading comparison site Gocompare.com.

Worryingly, 31 per cent of drivers haven’t switched for more than three years.

In that time, the average fully comprehensive car insurance premium has more than doubled.

The figures show that it isn’t just car insurance where households are potentially missing out on savings.
The switching figures for home insurance and energy are even worse with 80 per cent of households sticking with their gas or electricity supplier and 72 per cent saying they haven’t switched home insurer in the last 12 months.

Over a quarter (26 per cent) of Brits admit they have never switched any of the top 20 personal finance products, with bank accounts topping the least-switched list:

Bank accounts (41 per cent of people have never switched)
Broadband provider (29 per cent)
Savings accounts (23 per cent)
Credit cards (20 per cent)
Energy provider (16 per cent)
Home insurance (12 per cent)

John Miles, business development director at Gocompare.com, commented,
“There has been a cooling off in terms of car insurance premium increases in recent months but they remain at record high levels.

BMW Boot

If drivers haven’t switched for a couple of years they could well be paying too much and may be able to find the same cover at a much cheaper price by shopping around.

“Making comparisons for everyday financial products can save you a packet. Using Gocompare.com customers could save up to £395.19 by simply changing their motor insurance policy.

“There are still opportunities for real savings to be made – but, as our survey demonstrates, a large number of people haven’t switched despite the obvious benefits.
In particular, for many drivers, car insurance premiums remain close to record high levels. Average premiums have more than doubled in the last three years, so motorists can make some significant savings by checking deals on comparison sites.

“Our advice is simple – never just accept your insurance renewal quote without checking that the new premium is competitive, and take time at least once a year to check that you are not paying over the odds for your other household bills.

“Comparison sites like Gocompare.com provide fast and up-to-date information on what’s available, helping people access not just a cheaper deal, but enabling them to more easily compare products to find the best value for money.”

Posted in Automotive, Insurance, Study | No Comments »

Yorkshire drivers suffer the most congestion

Posted on: July 11th, 2012 by Richard Raw No Comments

If you thought your commute was bad, spare a thought for the drivers of Yorkshire.

The Leeds-Bradford area is the most congested in Britain, with drivers spending 86 hours a year stuck in jams.

Traffic in the conurbation increases journey times by an average of 28 per cent – and up to 63 per cent in the morning rush hour, a study has found.

Even Londoners have it easier, with drivers in the capital spending 74 hours a year in jams.

The traffic research, by satellite navigation firm TomTom, found Warsaw, in Poland, to be the most congested city in Europe. Leeds-Bradford came seventh and London eighth.

The research by satellite navigation firm TomTom looked at 31 cities across Europe with populations of more than 800,000.

The two Yorkshire areas have suffered a five per cent increase in congestion since last year, the biggest of anywhere in Europe.

Traffic Jams in Bradford

Drivers there face a delay of 36 minutes for every hour they drive in peak periods.

Third-worst in Britain was Birmingham where drivers spend an average 73 hours a year stuck in traffic jams.

Traffic in the West Midlands city is delayed by an average of 21 per cent because of congestion with delays of up to 28 minutes per hour during peak periods.

The worst days for congestion are Tuesday and Thursday in Leeds-Bradford and Birmingham while Mondays and Thursdays are worst in London.

The index is based on real travel times data captured by vehicles driving the entire European road network and compiled from five trillion data measurements.

The overall congestion level for all cities analysed in Europe is 24 percent – meaning peak journeys are a quarter slower than when traffic is flowing freely.

A spokesman for TomTom said: “It is amazing that Leeds-Bradford has overtaken London in our congestion ranking, with journeys in the area taking up to 63 per cent longer in the morning rush-hour.

“It shows that congestion is not limited to the capital, but is rapidly spreading around the UK’s regional cities.”

Harold Goddijn, chief executive officer of TomTom, said: “Over the years, with the help of our customers, we have built the largest and most accurate database of travel times in the world.

“When we combine this travel database with our detailed real-time traffic information and routing technology, we can not only pin point congestion, but can guide drivers away from congested areas onto faster routes.

“Even when only a percentage of drivers use a different and faster route, the available capacity on the entire road network increases, which benefits all drivers.”

Source: Daily Mail