MoneyExpert.com is urging motorists to shop around when renewing their car insurance. It is predicting a rise in car insurance premiums of up to 10% this year. The company says that by increasing premiums for existing customers, insurers will still be able to offer new customers large discounts.

"When it comes to car insurance, loyalty does not pay. The only way that car insurance companies can offer discounts and incentives to attract new business is by passing on the extra cost to their existing customers,” comments Sean Gardner, Founder of MoneyExpert.com. “"Have you ever wondered why your renewal notice always seems to rise slightly compared to the competitive quote you got initially? It's because you're paying for someone else's cheap deal."

In the past six months MoneyExpert.com says six million or 14% of people have switched car insurance provider in a bid to reduce the cost of their premiums. This equates to 6.43 million drivers.

"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,” says Sean Gardner. "While disposable income is being squeezed people need to make their money work as hard as possible for them. You could save up to 30% off your car insurance by shopping around and that's got to be worth having.”