Aussies Feeling the Pinch and Switching Car Insurers for $25
A survey of over 2500 Australians, conducted by Youi insurance
, has indicated that 43% of Australians would switch their car insurer if their annual car insurance renewal went up by as little as $25.
A further 29% would readily switch if their annual premium went up by $50.
Brendon Dyer from Youi insurance said he was surprised by the findings.
"We thought people would be prepared to shop around if their premium went up by $100 or more."
"To find that they will shop around if it goes up by as little as $25 is amazing," he said.
"It's clear that people are feeling the squeeze financially and taking steps to find savings on their household expenditure wherever they can."
The number of companies offering car insurance in Australia has increased significantly in recent years.
Australians now have more choice than ever before and can choose from low cost internet only options right through to the more established traditional brands.
Dyer indicated that the internet was one of the key drivers enabling consumers to shop around more easily.
"The internet is certainly enabling consumers to compare car insurance premiums more quickly and more efficiently," he said.
"You can generally get a range of prices in a matter of minutes and then ring the insurer for more in depth information."
"However, it's important that you get the right insurance for you. The cheapest offering is invariably not the best," he said.
In recent times insurers have been putting up the prices of their Car and Home insurance offerings to cover the losses they experienced due to summer storms.
They have also experienced mixed returns from their investments due to the volatility in world sharemarkets over the last 12 months.
-ENDS -
For further information or to arrange an interview contact:
Brendon Dyer, 07 3166 4972 or 0427 801 435
* Poll conducted on the Youi website from 1 July 6 August 2010
I'm feeling the pinch and I'll shop around if my car insurance renewal goes up by:$2543%$5029%$758%$10013%$150 + 7%Respondents 2573 Aussies Feeling the Pinch and Switching Car Insurers for $25By: Hugo Schreuder