How being lazy could cost you an extra lb260 a year in your car insurance

LAZY Brits are wasting lb260 a year allowing auto insurance premiums auto-renew, based on a new study.

An estimated three million drivers let cover roll-over for an additional year – overpaying by a collective lb800million.

New guidelines mean insurers have to include last year's premium on renewal letters to show just how much they're rising by.

But comparison website GoCompare said insurers are still guilty of "reassuring" drivers they don't have to do anything for their policy to continue.

That's the even though they may be obtaining a better deal elsewhere.

Half of motorists said they weren't aware insurers save their best prices for new customers and were being lulled into bad deals for that ease of not looking around.

Just another said they'd auto-renewed because the price was similar to the year before with many admitting they didn't trust insurers to offer a fair deal.

Some drivers said they'd continued with the same provider as they weren't confident navigating the confusing process.

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Georgie Frost, from GoCompare, said: "While auto-renewal guarantees that drivers maintain cover all the time and do not inadvertently end up driving uninsured, insurers aren't effectively communicating all the options available to people at renewal.

"We want to see insurers make sure that important information is prominently displayed, to ensure that policyholders are actively and effectively encouraged to shop around every year.

"Right now, insurers can – and do – still give more prominence to messages that encourage people to do nothing, despite their premiums rising."