It is reported by the BBC Car buyers waste £1.9bn a year on annual car insurance costs because they fail to shop around online for a better deal.

With the launch of the new 08 plate, consumers have been warned that failing to research the market could cost them a small fortune.

According to swiftcover.com, motorists that stick with the same insurer each year are individually wasting hundreds of pounds.

Tina Shortle, marketing director of swiftcover.com, said: “With household bills rising ever higher, it seems crazy that UK consumers should willingly waste over £1.9 billion by sticking with the same old insurer year after year.”

Swiftcover.com said motorists could save money by adding a spouse to the policy, by not paying for policy features that are not used or by fitting an anti-theft device to their vehicle.