The Financial Blog

Gocompare.com say that by shopping around for car insurance the average saving can be as much as £222 a year which makes up for the increase in fuel prices we’ve seen over the last 12 months.

The figures below show that on average a petrol car driver is £196 worse off, based on driving 12,000 mile per year.

Gocompare.com call this ‘Fuel Off-setting’ and it could help millions of people save money by switching car insurance. The money saved can then be used towards the ever increasing fuel bills.

If you drive a diesel car I’m afraid the cost is even more, around £233 per year. In June last year diesel prices were about level with petrol at £0.97 a litre. Now it’s more like £1.26 for a litre of diesel and £1.15 for a litre of petrol.

Hayley Parsons from Gocompare.com said; “Everyone is getting angry about the price of petrol and diesel rising but our advice is to use two fingers constructively by picking up your mouse and clicking on an insurance comparison site.  You can shop around to save 5p a litre on your petrol each time you fill up, but it still won’t off-set the full cost.  It is also a lot more time consuming than spending ten minutes on an insurance price comparison site when your renewal quote arrives in the post.”

“The case for switching car insurers is compelling enough at the best of times but with motorists facing increased costs you have to look to save money where you can.  Checking your renewal price by using an insurance comparison site is one of the quickest and easiest ways to try and save money.  And saving money doesn’t mean cutting corners either - drivers can see at a glance if they will be able to match their existing cover while getting a cheaper premium.”

>>Click here to Gocompare.com!

This entry was posted on Wednesday, June 18th, 2008 at 5:19 pm and is filed under Savings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.