Industry News from Yes Insurance

More than six million people have decided to change their car insurance cover provider over the last six months, it has been reported.

According to research from MoneyExpert.com, some 14 per cent of motorists have moved companies in pursuit of a better deal in the previous half-year.

It added that £682 is the average annual amount paid for a car insurance deal in the UK, with a ten per cent increase expected in the next 12 months.

MoneyExpert.com founder Sean Gardner commented that in car insurance "loyalty does not pay".

"With over 35,000 people switching car insurance provider every hour it seems that the nation is catching on to the situation and voting with their feet," said the expert.

Meanwhile, recent research from Motorpoint found that 60 per cent of people looking to purchase a new car will be buying a vehicle more environmentally-friendly than their previous model.