Biba: Look beyond price when buying car insurance for young drivers

www.moneynews.co.uk > Insurance > Biba: Look beyond price when buying car insurance for young drivers

Biba: Look beyond price when buying car insurance for young drivers

Thu 19th Aug 2010

Consumers buying products such as car insurance for young drivers have been told to avoid automatically going for the cheapest option.

According to the British Insurance Brokers' Association (Biba), it is in the customer's interests to make sure the cover policy they purchase is appropriate for their needs.

"Make sure that you get the most competitive quote for the suitable cover for you," said spokesman Graeme Trudgill.

He stated that there is no point in purchasing insurance if it does not provide the right level of protection.

Mr Trudgill highlighted home insurance as an example, saying that it would be pointless taking out a policy that does not cover expensive items such as jewellery.

He added that the insurance industry is in a healthy state at the moment and has come out of the financial crisis with its good reputation in tact.

This comes after Biba insisted that insurance providers are doing all they can to stop fraudsters pushing up premiums for law-abiding motorists.

Click here for more insurance news
 

Related News : Insurance
	Under-insurance 'a costly mistake for Brits'
	Rodents and pests 'causing havoc for homeowners'
	Brits 'should be aware of home cover details'
	PPI scandal 'has helped tighten financial regulation'
	Location 'can impact home insurance costs for Brits'
	FSA and CC 'failed to tackle PPI issue head-on'
	Pet cover 'important for Brits to get right'
	UK homes are 'falling into disrepair'
	Brits advised on reducing home insurance cost
	UK insurance 'has become more complex'