Drivers auto-renewing policies at highest level in three years

GoCompare has recorded a 40% jump in the number of drivers auto-renewing their motor insurance policy.

Research from the comparison site said that in the last 12 months 21% of drivers had renewed their policy automatically. Thais was up from the 15% recorded in the 12 months to February 2020.

GoCompare said 20% had stayed put because they had talked to their existing insurer about reducing their payments or taking a premium holiday, due to financial hardship caused by the pandemic.

Lee Griffin, CEO and founder of GoCompare, said: “We know insurers are helping those in extreme financial difficulty and, in these circumstances, it could be in the insured’s interest to remain with their current provider. But drivers who are still paying their premiums really need to shop around this year to see what other insurers are willing to offer them.”

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