Summary

The Internet has offered considerable relief for premiums as it offers some very competitive deals - this article looks into the impact the Internet has made.

Car Insurance. The Internet has forced prices down

Author: Anna Richardson

Car insurance. Surf the net for a better deal: Are you stuck in a rut when it comes to car insurance? It may be time to change to an on-line deal.
Car Insurance – new style policies cut the cost: Insurers are searching for new ways to bring down the costs of cover. Here are some of the ideas they've come up with.
Car Insurance – new style policies cut the cost: Insurers are searching for new ways to bring down the costs of cover. Here are some of the ideas they've come up with.
Small Print Can Bring Big Problems: Don't renew your car insurance policy without checking the alternatives. Your existing policy might have changed without you noticing. Always read the small print.

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Theres no denying it, car insurance has been on the rise for years, but something has turned the tide and now its on its way down again. Whats caused it? Its the Internet! The figures speak for themselves. In the second six months for 2005, the average car insurance premium was £462.15, a drop of fell from £8.02 from the previous six months. The over 65s have seen the biggest savings, as their premiums have fallen by 4.5% on the Internet in the last six months, from £347 to £342.

Not all the insurers are cheap though - its quite easy to find a difference of 40% between the most expensive quote, and the cheapest, which makes it even more amazing that only 31% of motorists shop around every time their insurance comes up for renewal. 19% of ( mortgage quotes ) motorists only get one more quote to compare with their existing insurer, and a huge 50% of motorists go ahead and renew their existing policy without even checking out the competition. (secured loan)

It may come as a surprise to learn who some of the most expensive insurers are. The consumer magazine Which recently carried out a survey which revealed that ( life insurance ) Norwich Union - the most popular insurer in the UKs - didnt come first in any of the 36 driver categories that were surveyed. Direct Line, a big name in the world of car insurance, only came first in one category. (cheap car insurance)

Its all down to a very clever marketing strategy that the big brand names are investing in. They advertise heavily with low premiums and good service, and then they increase ( life insurance advisers ) premiums gradually, relying on the fact that 50% of customers renew without even looking for a cheap deal. Its a strategy that works, from the very fact that they are the UKs biggest insurers!

Getting the best insurance deal is not all about money however, some ( insurance ) of the insurers that offer the cheapest deals do not offer the same level of service and benefits as the more expensive insurers. (mortgage quotes)

Click here for part 2 (loan quotations)