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Your MONEY: Drivers Ditch Cars As Petrol Price Hikes Bite ; CASH POINT

Apr 30, 2007


ONE in five motorists say the rising cost of petrol has made them change their driving habits.

A survey from American Express revealed that while the price of fuel has forced many to drive less or buy a more economic motor, few have bothered to search for new insurance. And the financial services giant reckons this could help save drivers an average pounds 109 a year.

Amex estimates that just 40 per cent of the UK's 33 million drivers bother to hunt around for a new car insurance deal when their existing policy runs out. "The cost of motoring seems to rise year-on-year, and while there is little motorists can do to cut the cost of fuel or road tax, insurance is one area where real savings can be made," says marketing manager Joanne Field.

When your existing car insurance policy expires, don't just accept the renewal quote that your current insurer will send you.

Make use of a comparison service, such as, to shop around, but don't judge the results on price alone.

Ensure that you get the right policy for your needs. Remember that some companies will let you reduce your premiums, if you increase the voluntary excess.

And take in to account other ways to keep your premiums down, such as protecting your no claims, parking off the road and driving less.

(c) 2007 Daily Mirror. Provided by ProQuest Information and Learning. All rights Reserved.

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