£800m cost of sticking with a car insurer

AN ESTIMATED three million drivers pay £800million too much each year by automatically renewing their car insurance, it was claimed yesterday.

Despite new rules saying insurers must include last year’s premium in renewal letters, many insurance companies tell unwitting drivers their policy will continue and they need take no action.

Research by website GoCompare said one in six drivers allow their cover to automatically roll-over for another year, without checking whether the price is competitive.

Jut four in ten switched provider, leading to a warning that three million motorists overpay on car insurance by a collective £800million each year by auto-renewing.