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Car finance customers could be losing out by not switching insurance

One in ten motorists has never switched or has been loyal to their car insurance provider for more than ten years, which could mean higher premiums, according to research by Tescocompare.com.

One in ten motorists has never switched or has been loyal to their car insurance provider for more than ten years, which could mean higher premiums, according to research by Tescocompare.com.

The comparison website says that a third (32 per cent) of drivers have switched their car insurance provider in the last year to try and find a cheaper policy, but some 36 per cent have stayed with their current provider for three years or more.

Almost one in ten (seven per cent) say they have never changed their car insurance provider.

Paul Baxter, director of commercial and partnerships at Tescocompare.com, comments: "Many insurers attract new customers through introductory offers and unfortunately this often means that premiums shoot up at the next renewal date.

"We encourage everyone to check the competitiveness of their renewal premium before accepting it."

According to the AA the average quoted premium for comprehensive car insurance now stands at more than £700.

For young drivers the average quote is £884.

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