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Womens Car Insurance Article |
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Customers urged to shop around for insurance
Shopping around for home and car insurance really could be worthwhile this year, with a leading market analyst predicting low average rises in premiums during 2004.
Datmonitor predicts that average home and motor insurance premiums will be no more than seven per cent this year, with specific insurance brackets such as women able to seek out cheaper offers.
This should encourage people to read the small print and compare prices across the industry. Indeed, Mike Naylor, principal researcher at Which? magazine, claims that, while insurers often offer "loss leading" initial quotes to attract custom, they have to claw the loss back with higher premiums later on, and customers should shop around to avoid losing out.
Mr Naylor says: "Undoubtedly the insurers just bump up premiums every year, and you are almost certain to save money just by making a few calls. Your existing company may then offer a discount."
However, Rebecca Hadley from the AA's insurance broking arm, has told the Financial Times that cheapest may not always be best, asking, "for example, is European motoring cover included?
"If you have comprehensive cover and want to take the car abroad, about two-thirds of policies will automatically cover this. But, for example, Direct Line and Privilege make you pay extra."
© DeHavilland Information Services plc, 1998-2003
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