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Experts buy their Insurance online

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Newly commissioned research has revealed that British drivers feel better informed when purchasing their car or van insurance online.

The survey, held by Gocompare.com has yielded some interesting results.

The research has shown that only 14% of drivers now buy a car or van insurance policy based on price alone, with the vast majority of drivers taking more information into account. 42% feel they know more about the policy features and excesses when they purchase online compared to over the phone.

The news will come as shock to those who believed price is the main factor in buying insurance, especially considering the rising cost of motoring.

2,030 drivers were surveyed and results showed that only 8.5% of drivers felt they knew more about their car or van insurance policy when arranged over the phone, rather than purchased online.

Furthermore 11% of all the drivers surveyed have only ever brought their insurance online.

Unfortunately the survey also found that less than 1 in four drivers, (23%) compare their financial products to ensure they are receiving the best deal. It found that 6% have never even bothered to check their products or change insurer.

Although the research revealed that drivers who buy their car or van insurance feel they know more about their policies, additionally 22% of drivers who check their renewal details have noticed an increase in excesses. 22% have also noticed that cover they expected to come as standard in the past has now become an optional extra.

Craig Ball, Finance Director of Autonet Insurance said, “It’s great to see that drivers are making an informed choice with their motor insurance. Motorists who are more informed can only be a good thing for them, and for insurers, and can hopefully remove some of the communication barriers faced when dealing with an insurance product that is not fully understood.

However that said it is disconcerting to see that people don’t shop around for their insurance and don’t consider changing who they insure through. Switching providers can increase savings, and it’s better for this money to go into the pockets of motorists, especially when you consider the rise in cost of driving.”

By Ben Malkin

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