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Insurers are imposing a £110 premium on loyal motorists who fail to switch to a cheaper rival, according to research.

Experts warned that drivers were being overcharged by a record amount after figures showed a widening of the gulf between average renewal quotes and the cheapest policies on the market.

Motorists were forced to pay an average of £682 for fully comprehensive cover in the first three months of this year even though premiums of almost £572 were available for those who shopped around

The loyalty premium is the highest in four years according to the study by comparethemarket.com

 

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