*51% of consumers could save £271.88 on their car insurance. The saving was calculated by comparing the cheapest price found with the average of the next 4 cheapest prices quoted by insurance providers on Seopa Ltd’s insurance comparison website. This is based on representative cost savings from March 2020 data. The savings you could achieve are dependent on your individual circumstances and how you selected your current insurance supplier.
Seopa split the providers on their comparison systems into different categories. They then selected quotes from the high volume sales providers as well as quotes from other providers which returned a price. Based on UK insurance market share data made available by the ABI, by way of a weighted selection process, they selected the cheapest of either the high volume sales providers or other providers (“the cheapest selected quote”). They then compared the cheapest quote on their system against the cheapest selected quote. They then took the savings figure which 51% or over could have saved using that formula. The savings you could achieve are dependent on your individual circumstances and how you selected your current insurance supplier.
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