Savings can be made by shopping around reveals insurance price survey
Savings can be made by shopping around reveals insurance price survey
Results from a car insurance price survey that was recently published have highlighted what a wide gap there is in price for consumers between the different insurers' quotes. The investigation by the National Consumer Agency revealed that the latest motor insurance cost comparison showed some motorists could make savings of more than half in some cases.
Young men were being quoted nearly twice as much for cover compared to young women by some insurance companies, with two insurers refusing to offer cover at all to the young male drivers profiled in the study.
The highest quote for a young driver was 2,000 from one insurance company, which was more than twice that of the two cheaper insurers. The survey also showed that excess on fully comprehensive policies commonly varied from 200 - 375, except for one company who offered quotes of up to 600. This could quickly erase any savings being made on a cheaper quote if a claim was made.
The survey also found that it is cheaper to pay for a policy all at once where possible, rather paying in monthly instalments. Paying for cover priced at 800 would cost a consumer an extra 80 extra if they were paying each month.
The most expensive interest figure for charging their customers to pay for their policies monthly, was set at 19.90 per cent APR, with the cheapest rate being just 4.25 per cent APR.
Other findings included older drivers with no-claims bonuses being offered a deal by one of the insurance company, but if they had to make a claim, the cover price would increase significantly.
Motor insurance experts have advised drivers to shop around for the best deals to suit their own personal requirements. Comparison websites have become a vital tool for consumers to find what they need, at a good price for them.
Drivers also need to be aware and read carefully through the terms and conditions so they are not surprised by any hidden charges, even when a claim looks to be competitive. Instant Payday Advance- No Need To Worry about Payday Buy International Calls as you would your Local Calls The Advantages Of Shopping For Mens Clothing Online Score A Point, Buy The Best Goals! Make Your Accounts Payable Processes More Efficient Now Hasbro Declines Buyout Offer That's why people buy used transmissions Why Buy Men's Athletic Shorts? Why you should buy a steel bench Avoid Paying Big Fines associated with CDL Violations Roku XDS - Why Should I Buy It? Architects Costs - Can We Avoid Paying Them? How to buy steam coal from kalimantan with large quantity