The latest car insurance price check from financial services research company Consumer Intelligence has revealed a 117% difference between the cheapest and most expensive providers.
It said the 117% difference amounted to £426 per year.
Based on car insurance quotes from January 2004, Consumer Intelligence said Hastings Direct and Direct Line were the cheapest motor insurers in the market, offering deals for both annual and monthly premiums.
But the research also highlighted that brokers are becoming increasingly competitive in terms of price, said Consumer Intelligence.
It said for the first time nearly 50% of companies in the motor insurance price check league tables were brokers, with one being a high street broker.
Consumer Intelligence managing director Ian Hughes said: “Our research proves drivers can enjoy significant savings by shopping around for the best car insurance deals.”
