News

“Any move that helps customers save money on their soaring energy bills is to be welcomed, but the introduction of a cap is not without concerns”

GoCompare comments on the ABI’s ‘Britain Uncovered’ study which revealed that over a quarter of households - 7.5 million - have no contents insurance, leaving possessions worth over £266 billion unprotected and at risk.

A comparison of 302 comprehensive car insurance policies, has revealed:

• 80% of comprehensive car policies exclude misfuelling cover altogether.
• Only 12% of comprehensive car policies include misfuelling cover as standard.
• 8% of policies offer misfuelling protection as an optional extra.

65% of drivers let their insurer renew their policy automatically, 15% without shopping around to check they are getting a good deal*

• Only 38% of motorists take the time to check the previous year’s premium to see how it has changed;
• Renewing without shopping around costs motorists £1.3bn** a year;
• 3.2 years - average length of time drivers have stuck with the same provider;
• Motorists urged to act as soon as they receive their renewal to get the best deals.

65% of drivers let their insurer renew their policy automatically, 15% without even checking they are getting a good deal*

• Only 38% of motorists take the time to check the previous year’s premium to see how it has changed;
• Renewing without checking premiums costs motorists £1.3bn** a year;
• 2 years - average length of time drivers have stuck with the same provider;
• Motorists urged to act as soon as they receive their renewal to get the best deals.

Personal registration plates could cost you dear if your vehicle is stolen or scrapped

• ‘TAX 1’ is expected to cost £100,000 when it is auctioned;
• Only 6% of car insurance policies specifically cover cost of personalised number plates;
• Owners of cars with personalised plates need to act quickly to avoid losing their cherished registration if their car is stolen or written-off.

New research from GoCompare Money has revealed that 7% of UK savers admit to having a secret savings account which they hide from the friends, family and partner.

Citizens Advice has called on regulators to set targets to reduce the number of people who pay the loyalty penalty, and investigate solutions for vulnerable customers. Georgie Frost, Consumer Advocate for GoCompare, comments.

Applications for GoCompare’s fintech community development initiative are now open

• Bank or building society accounts top list despite poor returns;
• More people will save in a coin jar than an equity ISA or a personal pension;
• 25% of people can’t afford to save or invest anything in 2018;
• Bitcoin bubble set to grow as 7% of men say they would invest in a virtual currency.