Industry News from Yes Insurance

Research from a price comparison and switching firm has found that more than seven million motorists are choosing not to take out cover for their no-claims policies (NCD).

According to uSwitch.com, a move like this would keep customers from collectively paying hikes of up to £707 million.

Such a purchase also stands to make drivers a saving of £92 per year, as this is the average amount by which a car insurance policy goes up in the event of an accident, the firm added.

The company commented that people should bear such factors in mind when shopping for a new deal.

"Choosing a policy should be based on good value for money and getting the most comprehensive policy for your needs," said Ashton Berkhauer, insurance expert for uSwitch.com.

This comes as motorists are set to see petrol prices go up this week, making the average cost 98p for unleaded and more than £1 for diesel.

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