Motorists urged to 'shop around for insurance'

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Motorists urged to 'shop around for insurance'

Tue 31st Oct 2006

Should they find their car insurance premiums rising, motorists should actively seek alternatives according to financial research company Defaqto.

Drivers have been told that if they shop around then better deals can be had, with such offers available online providing customers with a discount for insuring on the internet.

Defaqto point to the fact that Norwich Union raised its premiums by as much as 16 per cent in September and other insurers could follow suit meaning that motorists will end up paying more for their premiums.

Brian Brown, Defaqto's head of General Insurance research stated: "With the internet it is now so easy for customers to shop around and so many insurers are still giving introductory discounts, cashbacks or guarantees to beat other quotes, that there is little if any need for customers to stick with their existing insurer when faced with premium increases."

The car insurance industry is attempting to garner money from customers in other ways too says Defaqto, as 62 per cent of insurers have been found to charge for making adjustments to policies.

Defaqto's latest market report Motor Insurance in the UK: Adapting to Survive provides an analysis of the car insurance industry and is on sale for £1,100 for a PDF version or £550 for a printed copy.

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